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Equifax Completes APPRO Systems Acquisition
Atlanta , March 16, 2005 - Equifax Inc. (NYSE: EFX) today announced it has completed its acquisition of APPRO Systems, Inc., a leading provider of automated credit risk management and financial technologies. The deal was previously announced on February 7, 2005 .
Based in Baton Rouge , La. , APPRO designs and develops industry-leading technologies for consumer, commercial and retail banking lending operations. APPRO counts among its customers more than 150 financial institutions, including many leading banks and credit unions throughout the U.S. APPRO's LoanCenter™ software products and services serve the credit origination, underwriting and fulfillment needs for financial institutions and automotive lending.
"The addition of APPRO to Equifax provides an established distribution channel for Equifax's analytically based origination scores, particularly in consumer and small business lending automation," said Christine Pratt, senior analyst in the Consumer Lending practice at TowerGroup. "The strength of the APPRO brand in the consumer credit industry combined with Equifax's expertise in data and analytics will be an important catalyst for Equifax as it expands its offerings to reach a broader market."
About Equifax Inc.
Equifax Inc. is a global leader in turning information into intelligence. For businesses, Equifax provides faster and easier ways to find, approve and market to the appropriate customers. For consumers, Equifax offers easier, instantaneous ways to buy products or services and better insight into and management of their personal credit. Equifax. Information that Empowers.
Statements in this press release that relate to Equifax's future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Those factors include, but are not limited to, changes in worldwide and U.S. economic conditions that materially impact consumer spending and consumer debt, changes in demand for Equifax's products and services, pricing and other competitive pressures, risks associated with the integration of acquisitions and other investments and other factors discussed under the caption "Risk actors" in the Management's Discussion and Analysis section of Equifax's Annual Report on Form 10-K for the year ended December 31, 2003 and subsequent filings with the SEC.Equifax assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contact Information:
Jeff Dodge
Investor Relations
(404) 885-8300
jeff.dodge@equifax.com
David Rubinger
Media Relations
(404) 885-8300
david.rubinger@equifax.com |
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