SINGAPORE (REPUBLIC OF SINGAPORE) AND BOLOGNA (ITALY), JUNE 6, 2019
CRIF acquires BizInsights, a world-leading business information provider operating in Singapore
CRIF Spa, part of CRIF Group - a global company specializing in credit bureau, business information and credit solutions - announces the acquisition of BizInsights, an online business information service available in Singapore and owned by Elixir Technology Pte Ltd.
BizInsights currently serves both local and international customer needs through an innovative online platform, which aggregates Singapore business data from official sources. It provides various types of information reports with API delivery capabilities, and unique customized data services that support digitization in business transformation and business risk management needs.
Thanks to this deal, the new company, CRIF BizInsights, will be able to provide Singaporean and global companies and professionals with business information and detailed analyses, empowering their credit risk management, allowing them to easily monitor competitors and suppliers, boosting their customer targeting activities, and meeting due diligence and compliance requirements.
Singapore has a highly developed and successful free-market economy, and a higher per capita GDP than most developed countries. A member of the ASEAN Economic Community, Singapore has attracted major investments over the years in advanced manufacturing, pharmaceuticals, and medical technology production, and is strengthening its position as Southeast Asia's leading financial and technology hub (source: cia.gov). In this economic context, local businesses and international groups with a presence in the region increasingly need to rely on accurate and reliable commercial information to make the best business decisions.
With the addition of Singapore to CRIF’s significant presence across the ASEAN region as part of its broader Asia growth plan, CRIF clients can now look forward to even greater information coverage to meet their needs.
“We are pleased and excited that BizInsights is now part of the CRIF family. Given our shared values in delivering quality business information through technology innovations, Singaporean companies can look forward to a wider range of innovative products and services as CRIF consolidates its footprint in the region,” commented Lau Shih Hor, CEO of BizInsights.
“We are happy to announce the acquisition of a world-leading provider of business information in Singapore, allowing CRIF to further strengthen its presence in the growing and vibrant Asia-Pacific region. Through this deal, CRIF will combine its market knowledge and expertise with an innovative data provider platform, helping Singaporean companies and our global clients to keep on growing and innovating,” said Carlo Gherardi, Chairman of CRIF.
“CRIF already operates in Asia through local companies offering business information services and provisioning solutions to the market. Our clients manage their commercial risk using our up-to-date and accurate business and credit reports, as well as marketing lists. Now, thanks to the acquisition of BizInsights, CRIF will provide Singaporean companies and professionals with an innovative and flexible platform to ensure the highest quality commercial data and critical analyses,” commented Lamberto Barbieri, CRIF Asia Managing Director.
The deal has been reached thanks to Mr. David Emery, Chairman of Reciprocus International Pte Ltd, who will retain an advisory role within the transaction.
“The aspiration of a deal-maker is always to find a perfect match, and in this transaction the combination of BizInsight’s unique position in the Singaporean business information industry and CRIF’s worldwide presence and state-of-the-art capabilities as a global leader in the same sector has allowed Reciprocus to accomplish its mission,” said Mr. Emery.