SOURCE: Dun & Bradstreet Credibility Corp.
July 29, 2010 16:45 ET
Dun & Bradstreet Credibility Corp. Announces $100M Strategic Acquisition
Company Secures $100M of Additional Financing
LOS ANGELES, CA--(Marketwire - July 29, 2010) - Dun & Bradstreet Credibility Corp., a privately-held company based in Los Angeles, today announced that it has acquired the North American Credit-on-Self division, also known as the Self Awareness Solutions (SAS) operating unit, of D&B (NYSE: DNB). The new company addresses the needs of businesses to establish, monitor, and build their credit and credibility. As part of the agreement, the two companies have entered into a long-term strategic alliance to develop and co-market products and services. The value of the transaction and strategic alliance is approximately $100 million. Additional terms of the transaction are confidential.
Dun & Bradstreet Credibility Corp. becomes the exclusive provider of Credit-on-Self solutions in North America built on D&B's heritage of enabling businesses to establish, monitor, and build their business credit and credibility. Dun & Bradstreet Credibility Corp. is wholly owned by the Credibility Corporation. Credibility Corp. was founded by its management team led by Chairman and CEO Jeffrey M. Stibel and is funded by Great Hill Partners, a Boston-based private equity firm with over $2.5 billion under management focusing growth companies in a wide range of sectors including business and consumer services, media, communications and software industries. Great Hill Partners has committed an additional $100 million above and beyond the purchase price, to invest in the business going forward.
"The Dun & Bradstreet Credibility Corp. offers companies a wide range of services looking to establish, monitor and build their overall credit and credibility," said Jeff Stibel, Chairman and CEO, Dun & Bradstreet Credibility Corp. "As the nature and context of the overall economy becomes more dependent on credit and credibility, so too does a business' success become dependent on products that enhance their reputation among creditors, vendors, Fortune 1000 partners and regulatory agencies. This becomes increasingly important to businesses as our general dependence on the Internet and social media continues to grow. Businesses need to adapt to the dynamic nature of online information to ensure that they're being perceived properly."
Dun & Bradstreet Credibility Corp. is led by Jeffrey M. Stibel and an established team of executives with considerable experience creating successful public and private enterprises. Stibel was previously President and CEO, Web.com; General Manager, United Online; and currently serves on the Board of Directors for The Search Agency, EdgeCast, Autobytel, and VitaCost, as well as on academic Boards for Tufts University and Brown University.
D&B is the world's leading source of commercial information and insight on businesses. The Company has been in existence for over 169 years and owns a commercial database containing more than 150 million business records.
About Dun & Bradstreet Credibility Corp.
Dun & Bradstreet Credibility Corp. is the leading provider of credit management and credibility building solutions and is the exclusive provider of Credit-on-Self solutions for businesses looking to establish, monitor, and build their credit with D&B throughout North America. The company is a wholly-owned subsidiary of privately-held Credibility Corporation with headquarters in Los Angeles, CA.