TransUnion has struck a deal to sell its Noddle business to US-based free-for-life credit report service Credit Karma.
TransUnion acquired Noddle earlier this year as part of its acquisition of Callcredit. Noddle, which was originally launched in 2011, also offers a free-for-life credit report service.
John Danaher, TransUnion’s president of consumer interactive, said: “Noddle and Credit Karma are well-matched, both offering free information monitoring and financial health solutions. We are confident the business will continue to thrive under its new ownership and that this divestiture is a positive move for all parties, including the people of the UK.”
The move represents Credit Karma’s first move into the UK market, having established 85 million members across North America.
"Our mission is to help people make financial progress, and that extends beyond North America,” said Kenneth Lin, CEO and founder of Credit Karma. “We’re confident the acquisition of Noddle will help us deliver on our mission in the UK and welcome the opportunity to expand our partnership with TransUnion globally.”
Once the acquisition is complete, TransUnion will continue to supply Credit Karma’s customers with complete access to all of their credit reports and scores. TransUnion and Credit Karma already are partners in the US and Canada.
The terms of the agreement have not been disclosed. The sale is anticipated to close in early 2019 pending regulatory approval.