TransUnion, the global risk and information solutions provider, announced Monday (November 5) that it is selling its Noddle unit, the U.K.-based free credit reporting and monitoring service, to Credit Karma.
In a press release, TransUnion said it acquired Noddle earlier in 2018 as part of its acquisition of Callcredit, a credit reference agency based in the U.K. Terms of the deal were not disclosed. “TransUnion is excited to bring these companies together,” said John Danaher, TransUnion’s president of consumer interactive, in the press release. “Noddle and Credit Karma are well-matched, both embracing a ‘consumer-first’ approach to offering free information monitoring and financial health solutions. We are confident the business will continue to thrive under its new ownership and that this divestiture is a positive move for all parties, including U.K. consumers.”
Credit Karma is a fast-growing personal finance technology company that has more than 85 million members in the U.S. That count includes nearly half of all millennials, TransUnion said in the press release. Credit Karma offers a range of services to monitor the personal information of customers and financial health improvement products that are free to members. “Our mission is to help people make financial progress, and that extends beyond North America,” said Kenneth Lin, CEO and founder of Credit Karma, in the press release. “For over a decade, we’ve enabled our members in the U.S. and Canada to take control of their finances by giving them free access to their financial information. We’re confident the acquisition of Noddle will help us deliver on our mission in the U.K. and welcome the opportunity to expand our partnership with TransUnion globally.”
TransUnion said that once the acquisition closes, TransUnion will continue to provide Credit Karma members with access to all of their credit reports and scores. The two companies are already partners in both the U.S. and Canada, with the relationship ongoing for more than ten years.