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Fox Finalizes Deal to Buy Major Stake in Australian Fintech

Tuesday, Oct 22 2019

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Written by FinTech News Brief Staff

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Fox Finalizes Deal to Buy Major Stake in Australian Fintech

Fox Corp. closed a $265 million deal to buy fintech Credible Labs, a publically traded company in Australia, and will take ownership of 67% of the company. So reports Deadline.

Fox has pledged $75 million in financing for the company’s growth. Credible Labs, which was founded in 2012 and will now be delisted as a result of the deal, “offers online tools that allow borrowers to compare terms and options for loans.” The deal aims to “unlock tremendous synergy” between Fox Business Channel, the company’s local TV stations, and Credible, said Fox CEO Lachlan Murdoch.

Read the full article from Deadline.

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