With its purchase of LowerMyBills.com - the largest online financial services advertiser in the U.S. - Experian is becoming a serious consumer channel for online transactions, reports DM News. The deal coincided with the launch of Experian Interactive, which combines online credit report provider Experian Consumer Direct and Internet pay-for-performance firms MetaReward and Affiliate Fuel with LowerMyBills.com.
As a lead generator, LowerMyBills.com refers consumers to more than 400 businesses in 17 service categories, including home loans, credit cards, long-distance and wireless services, and auto and health insurance.
Experian is initially paying $330 million for the LowerMyBills buy, and up to $50 million more in a performance-related earn-out over the next two years, writes ClickZ. Management and employees at LowerMyBills.com keep their jobs.