By Michael Susin

Experian PLC said Monday that it has agreed to acquire a 51% stake in Brazilian fintech company MOVA Sociedade de Empréstimo entre Pessoas S.A. for a cash consideration of 40 million Brazilian reais ($7.9 million).

The consumer-credit reporting agency said the deal will complement its existing business-to-business solution for small and medium-sized companies.

The London-listed company said the deal will be funded from existing cash and includes a call option to buy the remaining 49% stake between 2026 and 2028.

MOVA's gross assets at Dec. 31 were BRL14.5 million.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

May 16, 2022 02:40 ET (06:40 GMT)

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