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Featured Company News - Equifax to Acquire ID Watchdog; Set to Enhance its Identity Theft Protection Portfolio

Research Desk Line-up: Yirendai Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 20, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Equifax Inc. (NYSE: EFX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=EFX. The Company announced on June 16, 2017, that it has signed a definitive agreement to acquire ID Watchdog, a leading identity theft protection, and resolution services Company, delivering solutions to the Employee Benefits marketplace. Equifax currently organizes, assimilates, and analyzes data on more than 820 million consumers and about 91 million businesses worldwide, where its database includes employee data from more than 7,100 employees. For immediate access to our complimentary reports, including today's coverage, register for free now at:


Discover more of our free reports coverage from other companies within the Credit Services industry. Pro-TD has currently selected Yirendai Ltd (NYSE: YRD) for due-diligence and potential coverage as the Company announced on May 22, 2017, its unaudited financial results for Q1 2017 which ended on March 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Yirendai when we publish it.

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ID Watchdog

ID Watchdog is a leading firm that delivers a range of identity theft detection and resolution services to individual consumers that are residents of the United States. Founded in 2005, the firm received net funding of about $6.68 million and is located in Denver, Colorado. The Company delivers its services on a subscription basis, primarily through its subsidiary, Identity Rehab Corporation (ID Rehab). ID Watchdog also monitors data points and alerts as and when new or updated information is detected.

ID Watchdog offers direct insight into the data associated with the user's identity and enables them to determine if or not they have been a victim of data theft. According to Q1 FY17 results reported on May 02, 2017, ID Watchdog reported net revenues of $3.54 million, which was 37.4% higher than the performance for Q1 FY16. The Company currently offers proactive monitoring of traditional and non-traditional credit; high-risk transactions and Internet black-market monitoring; and fully managed resolution services known to restore a particular identity.

Equifax Prospects

Equifax views this agreement with ID Watchdog as a step to augment its identity theft protection services and increase its reach into the employee benefits space. Prior to this announcement, on June 07, 2017, the Company announced an agreement with TransUnion (NYSE:TRU) under which both Companies would launch a first-of-its-kind identity theft protection feature known as Multi-Bureau Lock. The feature enables customers to lock both their Equifax and TransUnion credit reports. Once the Multi-Bureau Lock feature is activated, it offers customers enhanced control over the particular credit reports, enabling them to limit access to Equifax and TransUnion credit reports, with a simple swipe or click.

On May 10, 2017, the Company announced the unveiling of a new office space at One Atlantic Center (OAC). With close proximity to Georgia Institute of Technology, the new office space is spread across five floors in the 50-storey building. The office space serves as an extension of the Company's operations and is complementary to the other Equifax metro Atlanta locations in midtown and Alpharetta. The expansion is set to generate an economic impact of $62 million for the city, owing to $17 million investment by Equifax in the project, which was also backed and supported by the Georgia Department of Economic Development.

Equifax currently operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia/Pacific region. The acquisition of ID Watchdog is subject to customary closing conditions and ID Watchdog's shareholder approval. The transaction is expected to close by Q3 FY17.

Last Close Stock Review

Equifax's share price finished yesterday's trading session at $141.80, slightly down 0.55%. A total volume of 783.91 thousand shares have exchanged hands, which was higher than the 3-month average volume of 592.45 thousand shares. The Company's stock price surged 4.50% in the last three months, 21.06% in the past six months, and 15.61% in the previous twelve months. Additionally, the stock rallied 19.94% since the start of the year. Shares of the Company have a PE ratio of 31.87 and have a dividend yield of 1.10%. The stock currently has a market cap of $17.02 billion.

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SOURCE: Pro-Trader Daily