• Appriss Insights, a Clearlake Capital Group and Insight Partners portfolio company, provides data used in public and workplace safety, law enforcement, fraud detection and prevention, and healthcare credentialing.
• The acquisition will expand Equifax's (NYSE:EFX) relationships with employers, background screeners, and state and federal government agencies.
• Also, Appriss Insights' AI-driven solutions complement Equifax verification products by providing real-time notifications, context-sensitive risk assessments, and actionable insights.
• Equifax will receive a tax benefit with a net present value at the time of purchase of ~$360 million in conjunction with the acquisition.
• Appriss Insights is expected to generate ~$150 million of revenue in 2021, up 30% Y/Y, and the transaction is expected to be strongly accretive to Equifax's Adjusted EPS in 2022.
• Appriss Insights will continue to be led by Brian Matthews and will be based in Louisville, Kentucky.
• Appriss Health and Appriss Retail will remain part of Appriss Inc. and are not a part of this transaction.
• The transaction is subject to customary closing conditions and regulatory review and is expected to close in 2H21.
• Previously (Aug 9): Equifax to acquire ACA services provider, Health e(fx)