- Veda Advantage
Infobox_Company
company_name = Veda Advantage
company_
company_type = Private Company
company_slogan =
foundation =1956
location =Sydney ,Australia
key_people =
num_employees =
products = Business Services
revenue =
operating_income =
net_income =
homepage = [http://www.vedaadvantage.com/ www.vedaadvantage.com] |Veda Advantage is the largest
credit bureau inAustralia andNew Zealand . It provides credit reporting, credit scoring, and marketing analytics services.The Company was previously known as Baycorp Advantage, which was a merger of Australian company Data Advantage and New Zealand Company Baycorp. The name change was prompted by the sale of the
Baycorp Collection Services which will retain the Baycorp name. The name change has already been applied to its listing on theAustralian Stock Exchange .External links
* [http://www.vedaadvantage.com Veda Advantage]
* [http://www.baycorp.com.au/ Baycorp Collection Services]
* [http://www.vedaadvantage.com/Products_and_Services/product_landscape_nz.aspx Veda LandScape]Veda Advantage History
Veda Advantage has been a leading provider of business information for many decades. Issues such as privacy, data security, marketing services and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. We are proud to have been involved in the Australian credit landscape longer than any other business, creating innovative, world class services and solutions to help both business and consumers.
The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile.
Some of our historical highlights include:
2007 In January, the Board of Directors announced to the Australian Stock Exchanges they had received an indicative proposal from a private equity consortium comprising
Pacific Equity Partners andMerrill Lynch Private Equity Partners (the Consortium) regarding a potential privatisation of the company.Veda Advantage was officially launched on Feb 26.
Following the launch, Veda Board of Directors and the Consortium to the ASX and NZX announced a special purpose company established by the Consortium called VA Australia Finance Pty Limited (VA Finance).
Veda Advantage became fully privatised on July 9 At the Extraordinary General meeting in June, shareholders voted by an overwhelming majority (99.11% in favour, 0.89% against) – to accept the VA Finance Consortium’s offer on all Veda Advantage shares.
Veda Advantage acquired Atlantis Group’s marketing division in July as part of Veda Advantage’s strategy to expand and diversify its range of marketing services to all New Zealand businesses.
In September, Veda Advantage acquired Australian Business Research (ABR) and National Tenancy Database (NTD) from Collection House Limited (CLH).
2006 Shareholders vote for a new company name in November. Baycorp Advantage becomes Veda Advantage. Baycorp Collection Services sold in May for A$97 Million
2005 Baycorp Advantage announces a profit of $34.8 million - shareholders decision to exit the collections businessAnnounced the "Baycoprp Advantage Business Change Blueprint" program B³. This program is expected to produce net benefits of approximately $12 million per annum from 2008.
2001 Data Advantage and Baycorp Holdings merge to form Baycorp Advantage with dual listings on the Australian stock exchange and the New Zealand stock exchange.
2000 In November 2000, Data Advantage established another joint venture business with Trans Union, International, Inc. Called TransUnion Advantage, this business exclusively serves the Asian Pacific market in providing the software and decision support services to enable emerging economies to establish world-class credit-granting infrastructures.
1999 The establishment of the 50% joint venture business, Alliance Group Holdings, a company that offers a complete range of receivables management solutions.The Commonwealth Bank of Australia is a one-third shareholder in Alliance, based at Parramatta, joining original shareholders Data Advantage and Baycorp Holdings.
1998 Trading of Data Advantage Limited ordinary shares began on the Australian Stock Exchange on 30 September 1998.Data Advantage acquired 50% of Sydney-based Market Advantage Pty Limited (formerly Sharp & Anderson Marketing Consultancy) in November 1998, with the remainder acquired in July 2000.
1996 Decision Advantage Pty Limited was incorporated originally as Equigen Corporation Pty Limited in Victoria. Mid 1990's Baycorp embraced further technology - this time taking a US model and developing the "predictive dialer" for the AS400. For this, Baycorp received the 1994 TUANZ award for innovative use of telephony.
1987 Baycorp acquired Nationwide Credit Services (off Farmers Trading Company). From this was born Baynet, which has grown and evolved into New Zealand's leading source of credit and business information (today known as Baycorp Business Data).
1986 The McLaughlin Group listed on the New Zealand Stock Exchange (NZSE) as Baycorp. Ten million shares were listed at $1.00, raising the capital necessary to fund its continued expansion.
1985 Credit Advantage became the country's largest credit reporting agency, with offices in Queensland, South Australia and Western Australia. It also added a commercial information service, which collected data on companies and businesses.
The McLaughlin's businesses were consolidated with the regional operations coming under the newly formed McLaughlin Group of Companies.
1981 Neil McLaughlin developed a computer program to deal with the high volume of transactions processed. The company's first computer was an IBM System 34. This proved to be very successful and by the mid 1980s there were "standalone" computer systems in all nine of its offices. Later, the company introduced the first IBM AS400 into New Zealand.
1973 Neil McLaughlin left the Hutt Valley in 1973 to start Bay Collection Agency in Rotorua, which later expanded to Hamilton and New Plymouth. (The name Bay Collection took its origins from the Bay of Plenty region.) Keith McLaughlin remained in the Hutt Valley, expanding Hutt Valley Collection into Manawatu, Eastern and Coast operations.
1971 Ray McLaughlin was joined by his sons, Neil and Keith.
1967 Credit Reference Association (CRA) began as a mutual organisation.
1956 Ray and Jocelyn McLaughlin founded a "mum and dad" debt recovery business based in Lower Hutt, New Zealand. It was called Hutt Valley Collection Agency Ltd.
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