Equifax Enters Agreement to Purchase CSC Credit Services

first_img December 6, 2012 455 Views Out in Atlanta, “”Equifax Inc.””:http://www.equifax.com/home/en_us announced that its subsidiary, Equifax Information Services LLC, has entered into an agreement to purchase certain credit services business assets and operations of “”CSC Credit Services, Inc.””:http://www.csc.com/credit_services, a subsidiary of Computer Sciences Corporation (CSC). The purchase price is $1.0 billion in cash.[IMAGE] [COLUMN_BREAK]Headquartered in Houston, Texas, CSC’s credit business provides consumer credit services and related information to banks, mortgage companies, and retail establishments, among others. CSC owns consumer credit files in 15 states covering approximately 20 percent of the country’s population. Equifax has been processing CSC’s credit information and selling those files nationally since 1988.””We are extremely pleased to announce the signing of the agreement to acquire the CSC credit services assets,”” said Equifax chairman and CEO Richard Smith. “”We have a long working history with CSC and believe the acquisition of these assets will be a catalyst for the long-term growth of our USCIS business unit.””Smith anticipates the transaction will generate incremental net operating revenue to Equifax in the range of $115 million to $125 million. The pending transaction is also expected to “”be solidly accretive to Equifax’s adjusted earnings per share in 2013.”” A portion of the increased earnings will be used for additional investments in growth initiatives and infrastructure across Equifax’s businesses, Smith said. Equifax Enters Agreement to Purchase CSC Credit Services in Data, Government, Origination, Secondary Market, Servicingcenter_img Agents & Brokers Attorneys & Title Companies Company News Equifax Investors Lenders & Servicers Processing Service Providers 2012-12-06 Tory Barringer Sharelast_img read more

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