Equifax Acquires TDX Group For $327M

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Sunday, 02 February 2014 00:26

Atlanta based Equifax announced on January 16th the acquisition of TDX Group, the United Kingdom's largest debt placement services and debt management platform company for £200 million (approximately $327 million) from Investcorp and TDX's co-founders. The transaction is subject to certain customary post-closing adjustments.

With the acquisition, Equifax expands its capabilities within the collections segment and by adding TDX's technology, software, services and platforms, it will be able to expand its capabilities in other markets. Lenders and creditors across multiple industry verticals will benefit from the combined strength of the global resources and experience of Equifax and TDX's leading debt placement and recovery management systems.

"Our customers are looking for end-to-end solutions that streamline their collections processes, as well as deeper insights and analytics, to optimize their efforts," said Paulino R. Barros, President of Equifax International. "The combination of our expertise in cutting-edge technology and global resources, the common customer relationships we have with TDX, and the unparalleled collections expertise TDX brings, will drive significant revenue growth and move Equifax to the forefront of this growing industry worldwide."

Founded in 2004, TDX provides businesses with technology, data and advisory solutions to improve debt liquidation and the fair treatment of consumers in financial arrears. Based in Nottingham, TDX is the leader in the UK debt placement and recovery industry and has a rapidly growing global presence. TDX's unique data assets and proven product suite enable the company to anticipate market movements, and maintain a competitive advantage through investments in innovation and technology.
"This is a very exciting transaction," said Mark Sanders, CEO of TDX. "Equifax and TDX have very complementary data assets, as well as a shared customer base of long-standing company relationships looking for improved collection services and capabilities. We see significant opportunities to work together to deliver innovative, value-creating solutions to the market and the integration of the two companies' strengths will help us respond to a significant customer-driven opportunity, to use data, technology and insight to improve performance, compliance, and to deliver improved customer and consumer experiences."

The acquisition of TDX Group is expected to be non-dilutive in 2014 to Equifax adjusted earnings per share, excluding the impact of acquisition-related amortization expense (adjusted earnings per share, a non-GAAP measure), and accretive thereafter. TDX's 2013 revenue was approximately $90 million, as reported under U.S. GAAP.

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