Experian has announced that they are selling at a heavily discounted price PriceGrabber, LowerMyBills and ClassesUSA for to a little known Indian-based marketing company Ybrant Digital. The companies were bought in 2005 for a total of almost $900M, but will be sold off for $175M to Ybrant Digital. All companies recently have been considered long term losses for Experian. ClassesUSA became a huge loser for Experian recently with the collapse of the education market because of many new rules set by schools and the US Department of Education.
According to Ybrant:
Steve Krenzer who is the President of Experian Interactive will continue to lead the new group by joining the Ybrant Digital family. “I am very excited to join the Ybrant team. With Ybrant’s global footprint and our leading sites the combined group will make us the pacesetter globally.” said Krenzer.
With this significant move Ybrant will nearly double its current revenues. “By adding these established brands to Ybrant, we will offer interesting new products, and a world class lead generation platform.” Said Suresh Reddy, Chairman and CEO of Ybrant Digital.