Experian Drops $850M On Medical Billing Software Co.

Law360, New York (November 6, 2013, 8:02 PM EST) -- Credit report firm Experian has agreed to buy private equity-owned U.S. data software company Passport Health Communications Inc. for $850 million, to be funded with Experian's committed bank facilities, the company announced Wednesday.

In connection with Wednesday's deal, the Dublin-based company also said that it will cancel a $500 million share buyback three quarters of the way through, potentially disappointing investors, UK's Telegraph reported Wednesday.

Experian's stock declined on the news on Wednesday, as investors reacted cautiously to the company's ambition.

"Since entering the U.S. health...
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