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Equifax to Acquire eThority for its TALX Business Unit
Oct 02, 2011 (06:10 PM EDT)
Will Expand Workforce Analytics Capabilities
Offer Exclusive HR Data through Robust, Simple-to-Use Software Platform
ATLANTA, Oct. 2, 2011 /PRNewswire/ -- Equifax Inc. (NYSE: EFX), announced today it has reached an agreement to acquire eThority, an innovative provider of workplace and other analytical software that brings powerful, easy-to-use data interaction and reporting to business enterprises of all sizes. Financial terms for the transaction were not disclosed. eThority will become part of TALX, Equifax's workforce solutions business unit.
eThority creates and markets analytics software that integrates data from multiple disparate sources and, through an intuitive, secure process, analyzes and converts it into customized, relevant insights and information – in a self-service model .
"By combining the workforce and other analytical software of eThority, with our unemployment, payroll/HR and I-9 data, we will be able to offer workforce analytical solutions that are unmatched in the industry," said Dann Adams, president of TALX. "We will be able to offer organizations of all sizes, unprecedented insights to ensure they're getting, retaining, growing and planning for the right workforce – in a simple and cost-effective way. It also provides a unique way to benchmark within respective industries."
eThority offers multiple solutions for the HR, academic and other industries. Its DataTalent Performance Suite provides a turn-key solution for enterprise-wide workforce analytics and planning needs. With it, clients are able to align HR initiatives to the key organizational goals and measure the results.
"We are thrilled to build on our existing partnership with TALX and their world-class suite of HR services. We offer the platform that brings relevant, rich data directly to HR executives, affording them influence -- and solutions -- within their respective organizations that otherwise is difficult to achieve," said Mike Psenka, CEO of eThority.
Equifax expects to close on the transaction, pending satisfaction of customary closing conditions, by the end of October.
TALX, provider of Equifax Workforce Solutions, a leader in human resource, tax and payroll-related services, is based in St. Louis. TALX holds a leadership position in automated employment and income verification as well as unemployment cost management. TALX provides over 9,000 clients, including three-fourths of Fortune 500 companies, with Web-based services focused in three employment-related areas: hiring, pay reporting and compliance. Hiring services include assessments and talent acquisition, onboarding, and tax credits and incentives. Pay reporting services include, paperless pay and W-2 management. Compliance services include employment and income verifications through The Work Number, unemployment cost management and I-9 management.
Based in Charleston, SC, eThority is a provider of eThority Enterprise, a "user-obvious" enterprise business analytics platform that empowers end users and offers IT an easily maintainable solution. Beyond its CODiE award-winning enterprise class platform, eThority offers eXtensions: industry-specific modules designed to fill critical gaps in existing systems for human resources, academic medicine and higher education applications. Organizations choose eThority Enterprise because it provides real time end-user interaction with data in a secure, state-of-the-art platform capable of scaling from a single department to thousands of users. eThority's solutions are in use around the globe at major research universities and leading corporations. For more information, please visit www.eThority.com or call 1-800-846-9200.
Equifax is a global leader in consumer and commercial 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 and has investments in 17 countries, and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange under the symbol EFX. For more information, please visit www.equifax.com.
Management believes certain statements in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update any forward-looking statements.
Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by Equifax, including restructuring or strategic initiatives (including capital investments or asset acquisitions or dispositions), as well as from developments beyond Equifax's control, including, but not limited to, changes in worldwide and U.S. economic conditions that materially impact consumer spending, consumer debt and employment and the demand for Equifax's products and services. Other risk factors include our ability to develop new products and services, respond to pricing and other competitive pressures, complete and integrate acquisitions and other investments and achieve targeted cost efficiencies; risks relating to illegal third party efforts to access data; changes in laws and regulations governing our business, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and related regulations, federal or state responses to identity theft concerns; and the outcome of our pending litigation. Certain additional factors are set forth in Equifax's Annual Report on Form 10-K for the year ended December 31, 2010 under Item 1A, "Risk Factors", and our other filings with the Securities and Exchange Commission.
SOURCE Equifax Inc.