Information services company Experian has completed the sale of its consumer insights businesses Hitwise and Simmons to Symphony Technology Group for $47m plus an earnout of up to $5m.
Hitwise and Simmons provide consumer measurement and analytical services to marketers, media brands and advertising agencies.
Hitwise was acquired by Experian for $240m back in 2007 and has now been acquired by digital marketing company Connexity, while Symphony Technology Group has purchased Simmons.
Brian Cassin, CEO, Experian, said: “These disposals are in line with our strategy to focus our portfolio where we can create synergies and competitive advantage. We are pleased that Symphony Technology Group will continue to develop these businesses and thank the management team and employees for their support and wish them every success in the future.”
Experian provides data and analytical tools to clients worldwide. Headquartered in Dublin, Ireland, Experian employs 17,000 people in 38 countries and its total revenue for the year ended March 31st, 2015, was $4.8bn.
Hitwise and Simmons combined revenue for the year ended March 2015 was $74m.