TRW Credit Report is Gone!
TRW Credit Reports, TRW Sells Its Information Services Business. The New Company is named Experian
TRW TO SELL ITS INFORMATION SERVICES BUSINESS
For Release:
February 9, 1996
TRW Inc. today announced an agreement with a privately held corporation capitalized by Bain Capital, Inc., and Thomas H. Lee Company relating to the spinoff of TRW's information services business (IS&S) in a transaction valued at over $1 billion. The sale, which will be structured as a recapitalization, is expected to be completed in the second half of the year.
A related agreement will provide for the use of the TRW trademark for a two-year period. The current IS&S senior management, employees, and facilities will form the nucleus of the new company. Additionally, TRW will hold one seat on the board of the new company.
Mr. Gorman said, "We are very pleased that Bain Capital and Thomas H. Lee will be investing in and growing TRW's information business to the continuing benefit of our customers, employees, and shareholders. Over the last five years, this business has become the information industry's showcase for responsible data management."
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