), in an attempt to tighten its grip on the fast growing identity
protection market, has recently acquired TrustedID. It is going
to be part of Equifax's Personal Solution group, post
Although financial terms of the agreement were not disclosed,
industry sources close to the company confirm that the deal is
worth approximately $30.0 million to be paid in cash.
TrustedID was initially built with $20 million secured as
funding from investors, since the time it was first founded in
2004. The initial investors of the company included Draper Fisher
Jurvetson and Opus Capital, along with an angel investor, Brad
Garlinghouse. Oflate, the company has been making losses as a
result of its efforts to expand its offerings.
TrustedID deals with identity protection solutions andprotects
privacy and reputation on social media services. Therefore, there
is potential in the market.
Strategic acquisitions andproduct innovation are helping
Equifax broaden its dataand identity protectionassets. This in
turn is resulting inshare gains in North America, as well as
Given the company's strong correlation with the consumer and
financial markets, as well as its U.S. and European exposure, we
see a gradual improvement in results. Competition from
Green Dot CP - A
) is also a concern.
Currently, Equifax has a Zacks Rank #3 (Hold). Moreover,
investors can consinsider investing in stocks
Official Payment Holdings Inc.
) having a Zacks Rank#1 (Strong Buy).
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