Information firm Experian has acqruied LowerMyBills.com, an online mortgage lead generator. The purchase price was $330 million, plus up to a $50 million performance-related earn-out over the next two years.
The new properties will be slotted into Experian Interactive, a division that includes Experian Consumer Direct, a consumer-focused online credit products business; and MetaReward and Affiliate Fuel, which are pay-for-performance Internet marketing companies.
All employees and management for LowerMyBills.com will be retained. LowerMyBills.com was founded in 1999 with investors that include eCompanies Venture Group; Split Rock Partners, Co-Manager of St. Paul Venture Capital; and Evercore Ventures. The company is located in Santa Monica, CA.
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