Google teams up with private equity
Google is understood to be in partnership with private equity fund Permira to make make a joint bid for Tesco’s customer data business.
The two firms are in talks to make a bid for Tesco’s data wing, Dunnhumby, which gathers and analyses data from about 1bn shoppers across the world, according to reports from Sky News and Reuters last night.
Dunnhumby could be valued at up to £1bn. Tesco has appointed Goldman Sachs to explore the possibility of selling the data business.
Tesco has a large insurance arm that sells personal lines products. It is not yet clear whether any data on insurance buying habits will be included in the deal.