Equifax To Buy Boa Vista Serviços

(RTTNews) - Equifax Inc. (EFX) Thursday said it agreed to acquire Boa Vista Serviços, the second largest credit bureau in Brazil.

The deal was approved by the Boa Vista Serviços Board of Directors for R$8.00 per share, implying an estimated total enterprise value of R$3,103 million, or $596 million.

"We're energized to expand Equifax's reach internationally with the acquisition of Boa Vista Serviços, and look forward to welcoming Boa Vista Serviços' employees to our global team. This acquisition will mark an exciting new chapter for Equifax and Boa Vista Serviços customers that will bring powerful new insights to Brazilian lenders and service providers to help them better understand their customers and promote greater financial inclusion to meet the needs of the approximately 34 million unbanked or underbanked consumers in Brazil," said Mark W. Begor, CEO of Equifax. "Strategic, bolt-on acquisitions are core to our EFX2025 growth priorities. Boa Vista Serviços is our 14th acquisition that Equifax has signed or completed in the past 24 months totaling $4.1 billion."

As per the terms, Equifax will offer all Boa Vista Serviços shareholders the option to receive R$8.00 per share in cash, or R$7.20 in cash and 0.0008 of an EFX Brazilian Depository Receipt or R$5.33 of Equifax do Brasil S.A. common shares and R$2.67 in either cash or 0.0027 of Equifax BDRs.