06:44 AM EST, 01/08/2025 (MT Newswires) -- TransUnion ( TRU ) announced Wednesday that it signed a definitive agreement to acquire Monevo, a UK-based credit prequalification and distribution platform.

Financial terms of the transaction were not disclosed. TransUnion ( TRU ) currently owns 30% of Monevo's equity after acquiring a minority stake in 2021 and has agreed to acquire the remaining ownership from Quint Group.

The company said Monevo enables lenders and banks to deliver highly personalized credit offers to consumers through comparison websites and other third parties, predominantly in the UK and US markets.

The company intends to fund the transaction with existing cash and expects it to close by Q2.