“With the acquisition of Midigator, we are poised to expand our identity and fraud capabilities. The new Equifax is much more than a credit bureau. in 2021 Midigator expands on its robust differentiated data assets and acquisition of Kount to provide global enterprises with the information and solutions at their disposal. there is a need to better manage fraud throughout the customer lifecycle,” said Mark W. Begor, CEO of Equifax. “With the data and analytics capabilities of Equifax Cloud™ and the powerful combination of Midigator and Kount Identity & Fraud solutions, Equifax is poised to capitalize on new revenue streams and relationships as we expand our digital identity footprint in the rapidly growing space.” Our 12th acquisition since 2021. beginning and we continue to reinvest our strong free cash flow in strategic acquisitions to expand our capabilities and drive future growth.
Global omnichannel digital payments are expected to grow from 2.6 billion users in 2020 to more than 4.4 billion in 2025, disputes and chargeback rates are increasing problems for companies around the world. Founded in 2013, Midigator offers a technology platform that not only automates the dispute response process, but also provides real-time data. Midigator has prevented more than 2.7 million The resulting fine-grained, post-transaction data and digital signals complement Equifax Kount’s dataset and complement Kount’s AI-based fraud prevention products to combat fraudulent chargebacks known as “friendly” fraud, as well as criminal fraud activity.
“The acquisition of Midigator will enable the expansion of our digital identity network for existing and future customers, while enabling new forms of engagement with online commerce,” he said. Sid Singh, president of Equifax’s United States Information Solutions (USIS). “We’re seeing strong demand from customers and partners for digital identity and fraud prevention solutions that span the entire customer journey, especially to mitigate and manage post-transaction issues. Many organizations are in markets that haven’t been amenable to combining Kount’s pre-authorization and preventative protection capabilities with additional smart” With Midigator’s post-authorization and automated tax refund technologies, we will be able to deliver a comprehensive solution that improves the customer experience and helps businesses protect and recover revenue.”
“We believe Midigator’s chargeback representation and dispute management solutions are a great complement to Equifax’s current digital enablement and fraud control offerings,” said Brad Wiskirchen, CEO of Kount, an Equifax company. “This acquisition will position us strongly for continued product innovation and provide our customers and partners with the advanced tools and insights they need to protect and recover revenue in the fight against fraudulent chargebacks.”
“Midigator was founded by e-commerce merchants to solve friendly fraud challenges. Over the past decade, companies ranging from startups to established brands have used Midigator for intelligent chargeback responses, deep analytics, real-time account reporting and dispute processes.” said Corey Baggett, Founder and CEO of Midigator. “Our solutions are built on a strong foundation of data analytics, and we are excited about the new opportunities and product innovations that will come from combining our offerings with Equifax’s broad suite of data, analytics and products.”
The transaction is subject to customary closing conditions and is expected to close in 2022. in the third quarter. The acquisition is not expected to have a material impact in 2022. Equifax for financial results. As part of the LLR Partners transaction, in 2018 will go out of business after investing in Midigator. Raymond James worked as a financial advisor and Goodwin Proctor acted as legal advisor to Midigator in this transaction. King & Spalding LLP acted as legal counsel to Equifax.
Once the transaction closes, Midigator will become part of Equifax’s USIS business unit.
This publication contains forward-looking statements and forward-looking information. All statements regarding performance and events or developments that we expect or anticipate in the future, including statements regarding our ability to successfully complete the proposed transaction, anticipated financial and operational benefits, synergies and growth from Midigator acquisition and our ability to integrate Midigator and the incorporation of its products, services, technology, IT systems and personnel into our operations, and similar statements about our prospects and business plans are forward-looking statements. We believe that these forward-looking statements are reasonable when they are made. However, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from our historical experience and current expectations or projections. These risks and uncertainties include, but are not limited to, those described in our 2021 in Form 10-K and subsequent SEC filings. Because of such risks and uncertainties, we urge you not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe that knowledge drives progress. As a global data, analytics and technology company, we play a critical role in the global economy, helping financial institutions, businesses, employees and government agencies make critical decisions with greater confidence. Our unique combination of differentiated data, analytics and cloud technologies drives insights into decisions that move people forward. Headquarters Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or invests in 25 countries North AmericaCentral and South America, Europeand Asia Pacific in the region. For more information, please visit Equifax.com.
ABOUT MIDIGATOR LLC
Midigator provides an efficient and effective alternative method to the manual processes normally used to manage return arguments: intelligent return technology. Intuitive features that remove complexity and flexible automation that reduce costs help customers recover more revenue and prevent more payment refunds – all with unmatched ROI. To learn more about management payment refunds smarter, visit Midigator.com today.
Eric Abercrombie because of Equifax
Ray Lau For midigator
SOURCE Equifax Inc.
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