Enento Weighs Sale After Rejecting TransUnion Approach
Enento Group Oyj, a Finnish credit-information provider, is considering a sale after rejecting an approach from TransUnion, according to people familiar with the matter.
The Helsinki-based company has been in talks with potential buyers, including private equity firms, the people said, asking not to be identified because the information is private. Enento is working with advisers on the process, the people said.
Enento, which provides credit information and analytics services to banks, insurers and other financial institutions, has a market value of about 1.2 billion euros ($1.4 billion).
Background of Enento
Enento was founded in 1997 and is headquartered in Helsinki, Finland. It is a leading provider of credit information and analytics services to banks, insurers, and other financial institutions. The company offers a range of services, including credit information, analytics, and risk management. It also provides services related to consumer credit, business credit, and credit scoring.
Enento is listed on the Nasdaq Helsinki and has a market capitalization of approximately 1.2 billion euros. The company has operations in Finland, Sweden, Norway, Denmark, and the United Kingdom.
TransUnion’s Approach
TransUnion, a U.S.-based credit-reporting company, approached Enento earlier this year with an offer to buy the company, the people said. Enento rejected the offer, the people said.
TransUnion is one of the three major credit-reporting companies in the U.S., along with Experian and Equifax. The company provides credit-reporting services to consumers, businesses, and government agencies.
Enento’s Financial Performance
Enento reported revenue of €193.7 million in 2020, up from €183.3 million in 2019. The company reported net income of €25.2 million in 2020, up from €20.2 million in 2019.
The company’s shares have risen more than 40% since the start of the year, giving it a market value of about 1.2 billion euros.
Potential Buyers
Enento has been in talks with potential buyers, including private equity firms, the people said. It is unclear which firms are interested in acquiring the company.
The company is working with advisers on the process, the people said. It is unclear when a deal could be announced.
Outlook
Enento is a leading provider of credit information and analytics services to banks, insurers, and other financial institutions. The company has a market value of about 1.2 billion euros and has been in talks with potential buyers, including private equity firms.
It is unclear which firms are interested in acquiring the company or when a deal could be announced. However, it is clear that Enento is considering a sale after rejecting an approach from TransUnion.