Equifax to Acquire Appriss Insights for $1.825 Billion
EQUIFAX ANNOUNCED on Aug. 10, 2021, a definitive agreement to acquire Appriss Insights, a leading source for risk and criminal justice intelligence, for $1.825 billion. In conjunction with the acquisition, Equifax will receive a tax benefit with a net present value at time of purchase of approximately $360 million.
Appriss Insights is a portfolio company of Clearlake Capital Group, L.P. and Insight Partners, and provides data used in public and workplace safety, law enforcement, fraud detection and prevention, and healthcare credentialing. With this transaction, Equifax will extend the scope of its verification capabilities beyond income and employment with Appriss Insights’ complementary data assets, which include the nation’s most comprehensive and up-to-date incarceration data network.
“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,” said Mark W. Begor, CEO of Equifax. “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.”
This acquisition will expand the breadth of differentiated data sources “Only Equifax” can provide, expanding the company’s market-leading and fast growing Workforce Solutions verification capabilities, enhancing identity and fraud prevention offerings, advancing the strategy for a comprehensive Workforce Solutions data hub, and helping public and private organizations tap into timely, decision-critical data that helps employers reduce workforce risk and communities improve delivery of government entitlement programs. Both Equifax and Appriss Insights leverage cloud-native infrastructures that drive faster delivery of solutions to customers and enable them to more quickly realize the benefits of new services and technologies.
The transaction is subject to customary closing conditions and regulatory review and is expected to close in the second half of 2021. Appriss Insights will continue to be led by Brian Matthews and will be based in Louisville, Kentucky.
Note: Appriss Health and Appriss Retail will remain part of Appriss Inc. and are not a part of this transaction. For more information on Appriss Insights, along with its “knowledge for good” concept, check out a conversation with Matthews here.