Acquisition Expands Equifax’s Largest and Fastest-Growing Business Unit and Bolsters Robust Portfolio of Employer Solutions
Equifax® (NYSE: EFX) has announced that it has completed the acquisition of Efficient Hire, a provider of cloud recruiting, onboarding and HR management solutions. The definitive agreement to acquire Efficient Hire was announced on January 31, 2022. Efficient Hire is now part of the Workforce Solutions business unit, expanding on the company’s portfolio of employer- and HR-focused solutions that help firms manage their hiring and employment needs amidst a rapidly changing landscape. The transaction is not anticipated to have a material impact on 2022 Equifax financial results.
“As our first acquisition of 2022, Efficient Hire aligns with Equifax’s strategy to reinvest our strong performance in strategic and bolt-on acquisitions that strengthen our business and position us for diversified growth,” said Mark W. Begor, CEO of Equifax. “Our investment in the Equifax Cloud™ will enable us to more quickly integrate the unique Efficient Hire solutions into our already robust suite of Workforce Solutions employer services, delivering even more value, capabilities and innovation to our customers.”
Efficient Hire offers a portfolio of solutions specially tailored to meet the needs of hourly employers, with an emphasis on helping firms in the restaurant, staffing, building services, senior care and hospitality industries quickly and efficiently scale their workforces. Its offerings include HR management solutions for areas such as I-9/E-Verify, the Work Opportunity Tax Credit (WOTC) and the Affordable Care Act (ACA).
Efficient Hire, an Equifax company, is now a part of the Workforce Solutions business unit and will retain its presence in Denver. Efficient Hire CEO David Kenney has assumed the role of General Manager, Efficient Hire, an Equifax company.
“My team and I are thrilled to officially be part of the Equifax Workforce Solutions business,” said Kenney. “I am confident that the combination of Efficient Hire solutions and Equifax’s renowned capabilities in analytics and technology will be a win-win for our customers and for the Efficient Hire team.”
Source: Equifax Press Release