D&B Announces $320M Buyout of D&B Credibility Corp
D&B has announced that it will be purchasing D&B Credibility Corp. for $320M. Pending regulatory approval, the deal should close by the end of May 2015. Upon completion, D&B will form a new division, D&B Emerging Businesses, which will incorporate leading technology and data solutions along with various business assets, to offer new products and solutions to emerging businesses.
Today, there are over 28 million small to mid-sized businesses in the US and they are the backbone of the American economy. D&B has the largest commercial database in the world. As part of the acquisition, Jeff Stibel, CEO of D&B Credibility, will become Vice Chairman of Dun & Bradstreet. Stibel will also run D&B's Hoover's products division and head up the new division at D&B, Dun & Bradstreet Emerging Businesses.
The new management team hopes to improve the ways in which Dun & Bradstreet leverages existing products, develops new products, and incorporates leading B2B and business contact data into products. Read the full article here.