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Lehman Brothers Takes Majority Interest In TrueLink

Investment bank Lehman Brothers Wednesday took a majority stake in online credit reporter TrueLink Inc.

Financial terms were not disclosed, although Lehman Brothers (LEH) acquired the majority stake from TrueLink Founder Keith Guy.

TrueLink offers access to consumer credit reports and decisions on mortgage and other loan applications over the Internet. It was also the first company authorized to take business-to-business credit reports online.

Interim TrueLink Chairman and Managing Director at Lehman Brothers Kurt Locher said the company plans to keep TrueLink as a separate company.

"This is an important strategic step as we look to apply our financing capabilities within the Asset- and Mortgage-Backed business to fostering high-potential Internet start-up companies in related fields," Locher said.