PriceGrabber For Sale
According to Reuters, PriceGrabber is up for sale.
PriceGrabber’s parent, Experian, had been hit hard by the credit crunch.
As explained by thisTelegraph article.
Experian’s problems are not of its making, though. Its most important clients are financial institutions who use the company’s services to vet prospective credit card and mortgage customers, for example. Because the banks are sharply scaling back their lending programmes, demand for Experian’s data is drying up.
From October 16, 2007 – January 16, 2008, Experian dropped aprx. 24% (here are historical prices). But the stock has rallied since that low to wipe out those losses over the last month (and is beating the DJIA and FTSE).
Not sure if the sale of PriceGrabber is meant to shore up Experian’s finances in the face of troubled times in the core business unit, but that hypothesis makes some sense. The question now is who would buy PriceGrabber. Need to think that one over.
