Experian sells Hitwise and Simmons businesses for $47m

Information services company Experian has completed the sale of its consumer insights businesses Hitwise and Simmons to California-based private equity firm Symphony Technology Group for $47m (£31.1m) and up to an additional $5m based on an earnout.

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Hitwise and Simmons provide consumer measurement and analytical services to marketers, media brands and advertising agencies.

As part of its broader strategic review, Experian concluded these businesses provide limited synergies with the group’s core businesses.

For the year to the end of March, Hitwise and Simmons’ combined revenue was $74m.

Chief executive officer Brian Cassin said: “These disposals are in line with our strategy to focus our portfolio where we can create synergies and competitive advantage.”

At 1307 GMT, shares Experian shares were 1.1% lower at 1,142p.