Accc Sees No Issue In Experians Acquisition Of Illion

Experian's illion Acquisition Unopposed by ACCC

ACCC Announcement

The Australian Competition and Consumer Commission (ACCC) has announced that it will not oppose the acquisition of Credit Data Solutions Pty Ltd (illion) by Experian Australia Credit Services Pty Ltd (Experian).

The ACCC concluded that the proposed acquisition is unlikely to substantially lessen competition in any market in Australia. This decision was made after considering the following factors:

• The competitive landscape of the credit reporting industry in Australia, which includes a number of other major players.
• The limited overlap between the products and services offered by Experian and illion.
• The likelihood that the proposed acquisition will result in any significant price increases.

Experian's Statement

Experian has welcomed the ACCC's decision, stating that it "is a positive step towards completing the acquisition and creating a stronger, more competitive player in the Australian credit reporting industry." Experian also stated that it "is committed to working with the ACCC to ensure that the acquisition is completed in a manner that is consistent with the ACCC's competition objectives."

Impact on the Credit Reporting Industry

The proposed acquisition is expected to have a significant impact on the credit reporting industry in Australia. The combined entity will be the largest credit reporting agency in Australia, with a market share of approximately 50%. This could lead to concerns about the potential for anti-competitive behavior, such as price increases or reduced innovation.

However, the ACCC has indicated that it will closely monitor the market to ensure that the proposed acquisition does not result in any anti-competitive outcomes. The ACCC also has the power to take action to address any concerns that may arise in the future.