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D&B increased its indirect minority ownership stake in Dun & Bradstreet Information Services India Private Limited ("D&B India") to a 53% direct majority ownership stake for cash consideration of $46.6 million.
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D&B India was a wholly-owned subsidiary of Dun & Bradstreet South Asia Middle East Limited ("D&B SAME"), its existing Indian and Middle Eastern joint venture partner. D&B SAME remains a minority owner of D&B India and the transaction will not have any significant impact on D&B's expected full year 2008 financial results.
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D&B India is now considered a D&B 'controlled' market and will immediately become part of the D&B Asia Pacific region led by David Emery, Senior Vice President of Asia Pacific & International Business Development.
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D&B India is the premier provider of credit information and sales and marketing solutions in India. "Our majority stake in D&B India will allow us to provide global customers with even higher levels of information and insight on Indian businesses and it is expected to be a key driver of profitable revenue growth from our International business in 2009 and beyond," stated D&B in its SEC filing. "Specifically, the D&B India business is expected to generate approximately $20 million in incremental revenue for D&B in 2009. The transaction is not expected to have any significant impact on our 2009 earnings and is expected to be accretive to EPS growth beginning in 2010." |
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From the perspective of global expansion, Asia Pacific countries are becoming more important as growth markets for commerce and having more relevance in the global marketplace. In the past two years D&B has entered into partnerships with Huaxia in China, Interfax in Russia and also a joint venture with TSR in Japan to establish a stronger market share in these growing markets. |
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The D&B India senior management and their respective team remain unchanged by this acquisition and it is expected that D&B India will prove to be a key driver of profitable revenue growth in 2009 and beyond.
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