Equifax Do Brasil, Boa Vista merge operations, creating a premier credit information company with more than 30,000 Customers, 125 Million Consumer and Business Files
Equifax do Brasil Ltda. announced that it has completed a transaction to merge its operations with Boa Vista Serviços S.A., creating a company with a significantly larger presence, deeper resources and expanded capabilities that will bring the most comprehensive credit information solutions to the Brazilian business community.
Under the agreement, Equifax will combine its leading commercial credit intelligence and data operations with Boa Vista, the second largest consumer credit bureau in Brazil, to create a premier provider of consumer and commercial credit data and insights in the country. The combined company will have more than 125 million consumer and commercial files, more than 30,000 customers, a world-class workforce, and a strong brand name and marketing presence throughout Brazil. Equifax will also provide best-in-class global consumer and commercial products and solutions, and has committed up to $100 million of additional funding available, under various conditions, to support new product development and other strategic growth initiatives.
As part of the agreement, Equifax will become a joint owner of Boa Vista along with the existing shareholders which include: Associação Comercial de São Paulo (ACSP), Associação Comercial do Paraná, Clube de Diretores Lojistas do Rio de Janeiro, Câmara de Dirigentes Lojistas de Porto Alegre, and TMG Partners, LLC, a Brazilian-based investment company. Equifax do Brasil is a subsidiary of Equifax Inc. (NYSE:EFX).
Source: Equifax Press Release