Equifax To Acquire Appriss Insights For ~$1.83B

Equifax Inc. EFX has agreed to acquire Appriss Insights, a portfolio company of Clearlake Capital Group, L.P., and Insight Partners, that provides data used in public and workplace safety, law enforcement, fraud detection and prevention, and healthcare credentialing for $1.825 billion.
Equifax would receive a tax benefit with a net present value of ~$360 million at the time of purchase.
Appriss Insights is expected to generate ~$150 million of revenue in FY21, up 30% year-over-year, and the transaction is expected to be strongly accretive to Equifax's Adjusted EPS in FY22.
Appriss Insights' Artificial Intelligence (A.I.)-driven solutions complement Equifax verification products by providing real-time notifications, context-sensitive risk assessments, and actionable insights.
"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," said Equifax CEO Mark W. Begor.
Appriss Health and Appriss Retail will remain part of Appriss Inc. and are not a part of this transaction. The transaction is expected to close in the second half of 2021.
Equifax held cash and cash equivalents of $458.1 million as of June 30, 2021.
Price Action: EFX shares are closed higher by 2.33% at $259.17 on Tuesday.