Credit data company Experian has agreed to buy firm ClearSale, which specializes in carrying out activities in the cybersecurity area.

Experian announced the mentioned decision on Friday, October 4. It is worth noting that for this company, the implementation of the deal to acquire ClearSale, based in Brazil, means the opportunity to expand its presence in the space of one of the largest economies in Latin America. The value of the relevant business agreement is $350 million.

Experian is a subsidiary of Serasa. This firm is one of the leaders in the area of providing credit information in Brazil. Commenting on the business agreement to acquire a cybersecurity company, Experian stated that it is betting on the highly complementary deal to enhance its identity and fraud (ID&F) business in the mentioned country. This firm, listed on the London stock exchange, will pay 10.56 reais per share of ClearSale, which became public on the Sao Paulo stock exchange in 2021.

The value of ClearSale securities on Friday showed a significant increase of 13% in early trading, against the background of news about the specified deal.

Experian chief executive officer Brian Cassin said the acquisition of the cybersecurity company extends the ID&F suite of his firm, adding transaction fraud detection to existing strengths in account opening and account takeover fraud prevention.

ClearSale currently has an active customer base consisting of 7,400 clients. The company’s revenue last year amounted to 504 million reais ($91.72 million). At the same time, the securities of the firm have fallen in price by almost 70% since the initial public offering (IPO) of shares.

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