Together, Verisk Financial and TransUnion create a “full wallet view” of consumer spend and produce actionable new insights into consumer behavior for participating customers.
TransUnion (NYSE:TRU) has announced that it has completed the acquisition of Verisk Financial Services (“Verisk Financial”), the financial services business unit of Verisk (Nasdaq: VRSK), for $515 million.
Leading financial institutions, payment providers and retailers worldwide rely on Verisk Financial for a variety of data, insights, and analytics – in addition to advisory services – to gain a clear perspective on where their businesses stand today and how to best position themselves for future success. Verisk Financial’s leading business, Argus Information & Advisory Services Inc. (“Argus”), provides proprietary competitive portfolio performance insights sourced from a consortium of financial institutions, complementing TransUnion’s ability to help participating customers understand consumer behavior through a “full wallet view.”
“We’re thrilled to officially welcome Verisk Financial and look forward to a smooth integration process,” said Chris Cartwright, President and CEO of TransUnion. “Providing efficient online solutions for the financial needs of today’s digital-savvy consumer is critical, and the combined capabilities of TransUnion and Verisk Financial will help our customers by allowing them to make better and faster decisions.”
Verisk Financial brings to TransUnion authoritative data sets for credit and debit card accounts and demand deposit account behavior, strengthening the company’s position as a leading provider of innovative solutions around the globe. We expect the combined company will better serve consortium members by providing enhanced insights and solutions to help them increase financial inclusion, acquire new accounts, and improve fraud prevention, risk management and targeting.
PJT Partners acted as lead financial advisor to TransUnion and Simpson Thacher & Bartlett LLP served as legal advisor to TransUnion.
About TransUnion (NYSE:TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.® A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. Visit http://www.transunion.com/business
About Verisk Financial
Verisk Financial, the financial vertical of Verisk consisting of Argus, G2, LCI, Fintellix, Commerce Signals, Verisk Financial Research and MarketView business entities, is relied upon by leading financial institutions, payments providers, and retailers worldwide for competitive studies, predictive analytics, models, and advisory services to provide a clear perspective on where their business stands today—and to best position them for success in the future.
Leading financial institutions worldwide count on Argus’ benchmarking data, analytics, models, and advisory services to understand their world today – and make decisions that position them for the future. Competitive benchmarks that boost our client’s bottom line. Predictive analytics that improve profits. Fraud prevention tools that protect their assets. Advisory services that accelerate their growth. And new solutions that excite and engage their customers. We translate raw numbers into business intelligence, and business intelligence into real-world actions that power our customers productivity and performance, so they can excel today — and win tomorrow. We leverage this expansive network of data-powered solutions to supply insights and advice around the world, transforming our unique data and deep domain expertise into our client’s business advantage.
Source: TransUnion Press Release