Global information business Experian has snapped up Rugby bank software company Eiger Systems for an undisclosed sum.
A s p o k e s m a n Nottingham-based Experian said the purchase strengthened the business's expertise in data integrity, and extends its services within the growing payments sector.
E iger develops bank account validation and payment processing software which aims to reduce the risk and cost involved in electronic transactions.
Its software enables organ-isations to validate consumer and corporate bank sort code and account details, allowing them to be submitted securely to the UK's automated clearing house.
Eiger was founded in 1997 and employs 80-plus people. Around one in three of all UK direct debits and direct credits are processed by its software.
The acquisition is intended to build on the capabilities of Experian's international address and identity management software provider QAS.
Harry Meikle, group managing director of QAS, said: "The acquisition of Eiger Systems reflects the strong strategic fit between both organisations."
Callum Johnston, Eiger MD, said it was a "great opportunity".
