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.