Press release from GlobeNewswire (a Nasdaq OMX company)
Equifax Acquires TrustedID for Its Personal Solutions Business Unit
Monday, July 08, 2013
Equifax Acquires TrustedID for Its Personal Solutions Business Unit13:15 EDT Monday, July 08, 2013
ATLANTA, July 8, 2013 (GLOBE NEWSWIRE) -- Equifax Inc. (NYSE:EFX) announced today it has acquired TrustedID®, an innovative leader in the fast-growing identity protection market among U.S. consumers. TrustedID will become part of Equifax Personal Solutions, Equifax's direct-to-consumer business unit offering credit monitoring and identity protection solutions.
Based in Palo Alto, Calif., TrustedID offers individuals and families one of the most comprehensive identity protection solutions addressing their identity, reputation and privacy protection needs. TrustedID serves its consumer customers directly through the www.TrustedID.com website and engages consumers indirectly through an expanding range of partners.
"TrustedID is a leading provider of identity protection solutions with innovative offerings, a flexible technology platform and strong partner relationships. By combining these capabilities with our operational, product, marketing and data assets, we will continue to enhance and expand our suite of credit and identity solutions to meet consumer needs," said Trey Loughran, president of Equifax Personal Solutions. "This marks the start of an exciting new chapter in our ongoing journey to empower consumers with the knowledge and tools to be their financial best."
TrustedID offers a wide array of products and services to help protect consumers from the threat of identity theft, as well as allowing consumers to monitor and manage their online reputation within social media services including Facebook, LinkedIn and Twitter. In addition, TrustedID allows consumers to take better control over their offline identity by allowing consumers to opt-out of catalogs, other direct mailings and third-party mailing lists through its Catalog Choice offering (www.catalogchoice.org). TrustedID offers these products directly to consumers and through innovative partnerships, such as its recently announced exclusive relationship with AARP Services Inc., to offer AARP Credit and Identity Theft Protection directly from TrustedID to AARP's more than 37 million members.
"We are delighted to join forces with Equifax Personal Solutions and help drive the business to new levels of innovation and growth," said Scott Mitic, CEO of TrustedID. "In today's digital economy and culture, Americans are becoming increasingly aware of identity, reputation and privacy issues. Together, Equifax and TrustedID can deliver a powerful combination in helping consumers better understand and address two key elements of financial well-being -- credit and identity."
Financial terms of the transaction were not disclosed.
Equifax Personal Solutions empowers consumers with the confidence and control to be their financial best. Find out more about Equifax's innovative suite of credit monitoring and identity protection products at www.equifax.com. Learn about identity theft and how to help protect yourself and your family at IdentityProtection.com. Get smart information on everything from credit to retirement, all in one place at the Equifax Finance Blog, blog.equifax.com.
Equifax is a global leader in consumer, commercial and workforce information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.
Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more information, please visit www.equifax.com.
As the nation's most comprehensive identity protection solution, TrustedID helps consumers guard their privacy, protect their identity and manage their reputation. TrustedID works on multiple fronts to help empower and protect millions of consumers, providing resources and services to put control and choice back in the hands of the consumer. Founded in 2004, TrustedID is a privately-held company with headquarters in Palo Alto, California. For more information about TrustedID services, visit www.TrustedID.com, follow on Twitter and 'like' on Facebook.
This document may contain forward-looking statements. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of Equifax and the information contained in this release. These factors include the ability to integrate successfully the purchased business and operations within Equifax or to realize synergies from such integration; costs related to the acquisition; the economic environment of the industries in which Equifax operates; and other risk factors discussed in Equifax's public reports filed with the SEC. Equifax assumes no duty whatsoever to update these forward-looking statements or to conform them to future events or developments.
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