KUALA LUMPUR: Experian, a global information services company, has bought a controlling interest in RAM Credit Information Sdn Bhd (RAMCI).
In a statement, RAM Holdings Bhd said it had sold its 33.15 per cent stake in RAM Credit Information Sdn Bhd (RAMCI) to Experian (Malaysia) Sdn Bhd.
RAMCI will be rebranded to Experian in the next two months as it comes onboard as Experian Malaysia’s data arm.
Founded in 2000, RAMCI is one of the leading consumer and business information bureaus in Malaysia.
It provides credit reports, alerts and monitoring, primarily to financial institutions, helping them with credit origination, portfolio management and collections activities.
It also has a direct-to-consumer business, empowering consumers to better understand their credit and help protect their identities.
In a separate statement, Experian Asia Pacific chief executive officer Ben Elliott said the acquisition extended Experian’s position in the region, adding a fourth credit bureau to its operations there.
“It extends our position in Malaysia, an economy seeing rapid expansion and with a population of 32 million,” Elliott said.
“Experian has a long history of investment and commitment to Malaysia, given our existing investments in our global delivery centre with its 800 employees, as well as our recent investment in Jirnexu which runs RinggitPlus, Malaysia's leading financial comparison website.
“By combining Experian’s world leading technology and platforms together with RAMCI’s data expertise and local knowledge, we will better serve consumers and businesses in Malaysia,” he added.
The acquisition marks a key step for Experian in accelerating its market presence in Malaysia, with RAMCI coming on board as Experian Malaysia’s data arm.
The company said it would fast-track its overall offering in Malaysia, creating more synergies across its data and decisioning portfolio.