Equifax Strengthens Fraud Prevention Via Midigator Acquisition

Equifax Inc. EFX has agreed to acquire Midigator LLC, a provider of post-transaction fraud mitigation solutions. Financial terms were not disclosed.
Midigator's automated, data-driven chargeback prevention and chargeback dispute management solutions complement the Equifax Kount Identity Trust Global Network.
"The acquisition of Midigator will bolster the expansion of our digital identity network for current and prospective customers while further enabling new forms of engagement in online commerce," said Sid Singh, President of United States Information Solutions (USIS) at Equifax.
Equifax held cash and equivalents of $223.6 million as of June 30, 2022.
Midigator will become part of the Equifax USIS business unit.
The acquisition is not anticipated to have a material impact on 2022 Equifax's financial results.
EFX expects to close the transaction in the third quarter of 2022.
Price Action: EFX shares closed lower by 2.59% at $193.03 on Tuesday.