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CHICAGO, April 08, 2022 (GLOBE NEWSWIRE) — TransUnion (NYSE: TRU) today announced that it has completed the acquisition of Verisk Financial Services (“Verisk Financial”), the financial services business unit of Verisk (Nasdaq : VRSK), for $515 million.
Leading financial institutions, payment providers and retailers around the world trust Verisk Financial for a variety of data, insights and analysis – in addition to advisory services – to get a clear view of the current state of their businesses and how best to position themselves for future success. Verisk Financial’s core business, Argus Information & Advisory Services Inc. (“Argus”), provides proprietary competitive portfolio performance insights from a consortium of financial institutions, complementing TransUnion’s ability to help participating clients understand consumer behavior through a “full portfolio view”.
“We are delighted to officially welcome Verisk Financial and look forward to a smooth integration process,” said Chris Cartwright, President and CEO of TransUnion. “Providing effective online solutions for the financial needs of today’s sophisticated consumers is essential, and the combined capabilities of TransUnion and Verisk Financial will help our customers by enabling them to make better decisions, faster.”
Verisk Financial Brings Authoritative Data Sets for Credit and Debit Card Accounts and Demand Deposit Account Behavior to TransUnion, Strengthening the Company’s Position as a Leading Provider of Innovative Solutions Worldwide entire. We anticipate that the combined company will better serve consortium members by providing them with enhanced insights and solutions to help them increase financial inclusion, acquire new accounts and improve fraud prevention, risk management and Targeting.
PJT Partners acted as lead financial advisor to TransUnion and Simpson Thacher & Bartlett LLP acted as legal advisor to TransUnion.
About TransUnion (NYSE: TRU)TransUnion is a global information and knowledge company that enables confidence in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call it Information for Good.® Operating in more than 30 countries on five continents, TransUnion provides solutions that help create economic opportunity, exceptional experiences and the personal empowerment of hundreds of millions of people.
About Verisk FinancialVerisk Financial, Verisk’s financial vertical comprised of business entities Argus, G2, LCI, Fintellix, Commerce Signals, Verisk Financial Research and MarketView, is used by major financial institutions, payment providers and retailers worldwide for competitive research , predictive analytics, models and consulting services to provide a clear perspective on where their business is today and best position them for success in the future.
About Argus Leading financial institutions around the world rely on Argus benchmarking data, analytics, models and advisory services to understand their world today and make decisions that position them for the future. Competitive references that improve the results of our customers. Predictive analytics that improve profits. Fraud prevention tools that protect their assets. Consulting services that accelerate their growth. And new solutions that excite and engage their customers. We translate hard numbers into business intelligence, and business intelligence into actionable actions that drive our customers’ productivity and performance, so they can excel today and win tomorrow. We leverage this vast network of data-driven solutions to deliver insights and advice around the world, turning our unique data and deep domain expertise into business advantage for our clients.
TransUnion Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of the management of TransUnion and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. All statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information regarding possible or assumed future operating results, including our advice and descriptions of our business plans and strategies. These statements often include words such as “anticipate”, “expect”, “guide”, “suggest”, “plan”, “believe”, “intend”, “estimate”, “target”. , “project”, “should”, “could”, “would”, “may”, “will”, “plan”, “prospect”, “potential”, “continue”, “seek”, “predict” or the form negative of these words and other similar terms. phrases.
Factors that could cause actual results to differ materially from those described in the forward-looking statements include: the failure to realize the synergies and other benefits expected from the acquisition of Verisk Financial; the possibility that the integration of Verisk Financial will be more costly to complete than expected; disruption of business after closing of the acquisition, including disruption of management time of ongoing business operations and other opportunities due to the acquisition; the effects of pending and future legislation and regulatory actions and reforms; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets and other macroeconomic factors beyond TransUnion’s control; risks relating to TransUnion’s indebtedness, including our ability to make timely principal and interest payments and our ability to comply with the covenants of agreements governing our indebtedness; the economic, political and social impact of the COVID-19 pandemic and the uncertainty related thereto; the war in Ukraine and the escalation of geopolitical tensions following the Russian invasion of Ukraine; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8 -K, which are filed with the Securities and Exchange Commission and are available on the TransUnion website (www.transunion.com/tru) and the Securities and Exchange Commission website (www.sec.gov). Many of these factors are beyond our control. The forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to release the outcome of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may occur after the date of this press release.
Source: Trans Union