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US: Murdoch’s Fox Corp to buy fintech Credible Labs in $397M deal

 |  August 5, 2019

US broadcaster Fox agreed to buy Credible Labs in a deal valuing the online finance broker at US$397 million, reported Variety.

The San-Francisco-based Credible Labs, listed on the Australian Stock Exchange, gives Fox exposure to an online service that matches personal borrowers and lenders seeking to service the US$1.6 trillion a year US mortgage market.

“The acquisition of Credible underscores Fox Corporation’s innovative digital strategy that emphasizes direct interactions with our consumers,” Lachlan Murdoch, Fox Corp’s executive chairman and chief executive, said in a statement.

Credible’s online platform provides credit checks to borrowers seeking mortgages and student and personal loans, and uses that information to show them pre-qualified loan rates and refinancing options that they can click through to obtain.

Full Content: Variety

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