Monday, April 5, 2010

Equifax Signs Agreement to Sell APPRO

PRNewswire-FirstCall/ -- Equifax Inc. (NYSE:EFX) today announced it has entered into a definitive agreement to sell its Equifax Enabling Technologies LLC unit, consisting primarily of the APPRO suite of loan origination software ("APPRO"), to CRIF Corporation, an affiliate of CRIF S.p.A., an Italian credit reporting firm. The sales price is $72.4 million, subject to adjustment. The transaction is expected to close in April, upon satisfaction of customary closing conditions. Equifax intends to use the net proceeds from the transaction for general corporate purposes. The divestiture is not expected to have a material impact on adjusted EPS for full-year 2010.

APPRO is a leading provider of comprehensive loan origination systems for financial institutions and is based in Baton Rouge, Louisiana. CRIF Corp., with headquarters in Tampa, is a provider of decision support systems, business information solutions, credit management, direct marketing and credit collection services. CRIF S.p.A., is based in Bologna, Italy, and is a leading provider of banking credit information in Europe, including business and commercial information and credit and marketing management services.

Community News You Can Use
Click to read MORE news:
Twitter: @gafrontpage
Twitter: @readmylipstick
Twitter: @hhpotterystudio

No comments: