Experian plc (LSE:EXPN) entered into an agreement to acquire 51% stake in MOVA Sociedade de Empréstimo entre Pessoas S.A. from Érico Sodre Quirino and Roberto Tesch for $7.9 million on May 15, 2022. The transaction is expected to be funded from Experian's existing cash resources. In addition to cash consideration there is component of an earnout based on MOVA's calendar year 2024 net revenues payable to the sellers. As of December 31, 2021, MOVA generated negative EBIT of BRL 11.7 million ($2.3 million) and the gross assets of MOVA were BRL14.5 million ($2.9 million). The transaction is subject to approval by the regulatory authorities in Brazil. Experian has a call option to acquire the remaining 49% stake between calendar year 2026 and calendar year 2028, whilst the sellers have a put option exercisable during calendar year 2029.