Investcorp bags Finish credit data firm

Investcorp has acquired a Finish credit data company with plans to broaden the company's international reach, the Bahrain investment group said on Sunday.

"We look forward to supporting Asiakastieto's very experienced management team to make the most of the continuing organic growth potential it can achieve in Finland... and exploring opportunities for international expansion and consolidation," Tim Mattar, a managing director in Investcorp's placement, relationship and management team, said in a statement.

Asiakastieto is based in Helsinki and has around 23,000 customers, including financial institutions, telecom operators, consumer credit companies, wholesalers, retailers and debt collection agencies, Investcorp said.

The company, which controls around 74% of the Finish credit information market, saw net sales rise 24% to 25.7 million euros ($40 million) in 2007, Investcorp said.

The financial details of the deal were not disclosed.

Asiakastieto is Investcorp's third purchase so far this year, following the acquisition of US publishing house Randall-Reilly from Wachovia Capital Partners in March and an office property in New York for $1.4 billion from Dubai-owned investment firm Istithmar.

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