Equifax to buy Appriss Insights for $1.83bn
By Michele Maatouk
Date: Tuesday 10 Aug 2021
(Sharecast News) - US data, analytics and technology company Equifax has agreed to buy Appriss Insights for $1.83bn.
Appriss, a portfolio company of Clearlake and Insight Partners, provides data used in public and workplace safety, law enforcement, fraud detection and prevention, and healthcare credentialing.
The business is expected to generate around $150m of revenue in 2021, up 30% on the year, and the transaction is set to be "strongly" accretive to Equifax adjusted earnings per share next year.
Equifax chief executive Mark W. Begor said: "The acquisition of Appriss Insights' industry-leading data platforms will further position Equifax as the resource of choice for public and private sector decision intelligence.
"Our strong performance and balance sheet allow Equifax to reinvest our cash flow in this accretive and strategic acquisition that will strengthen our largest, fastest-growing business unit - Workforce Solutions - for additional growth by building on our differentiated verifications data and expertise while further diversifying Equifax. We are extending the scope of our verification capabilities beyond income and employment with Appriss Insights' unique data assets which feature industry-leading automation, coverage and accuracy."
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