Equifax has sold its vehicle information business HPI to vehicle mileage verification specialists IMVA for an undisclosed sum.

A new company, HPI Group, now owns both HPI and IMVA and will provide solutions for the retail motor sector.

Kevin Coyne, executive vice-president of Equifax, said: “The sale of HPI is part of the strategy to sustain Equifax's focus on its core consumer credit and business services in the UK and to enable HPI to continue to build on its position as a strong, independent force for the retail motor industry.