The deal is expected to close in Q2 2022
Credit reporting agency TransUnion has signed a definitive agreement to acquire Verisk Financial Services.
According to its release, TransUnion will acquire Verisk’s financial services business unit for $515 million, which will be funded with cash on hand. Verisk, which recently partnered with mortgage analytics firm RiskSpan, posted $143 million of revenue last year. The company expects to be immediately accretive to 2022 Adjusted EPS upon closing. The transaction is expected to close in the second quarter.
“Verisk Financial is a distinctive business with authoritative, differentiated data — particularly from Argus’s consortium of lender-contributed data and analytics,” said Chris Cartwright, president and CEO of TransUnion. “TransUnion’s broad range of data, analytics and technology enhances Verisk Financial’s existing data set and expands their addressable market while delivering valuable innovation to members of the consortium.”
Following the acquisition, TransUnion intends to acquire new accounts and enhance its fraud prevention, risk management and targeting solutions. The deal will also enhance TransUnion’s ability to scale current offerings, the company said.
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“As consumers continue to digitize their financial behaviors, the addition of Verisk Financial will augment our existing data and analytics capabilities, deepening customer partnerships and complementing our insights and benchmarking solutions,” said Steve Chaouki, president of US markets and consumer interactive at TransUnion. “Together, our enhanced capabilities will help our respective customers accelerate their growth by allowing them to make better – and faster – decisions driven by a holistic ‘full wallet view’ of how consumers are using their accounts.”
“Today’s consumer requires unique, tailored solutions across a range of financial needs. TransUnion is a respected industry leader, and the combined assets of each company will only improve the way we serve customers. Further, the acquisition elevates TransUnion as an advisor helping financial institutions serve the ever-changing consumer landscape,” said Lisa Bonalle-Hannan, president of Verisk Financial.
