Verisk Analytics, Inc. (Nasdaq:VRSK), a leading source of information about risk, announced it has signed an agreement to acquire Argus Information & Advisory Services, LLC (“Argus”) for US$ 425 million.
Argus is a premier provider of information, competitive benchmarking, scoring solutions, analytics, and customized services to financial institutions and regulators in North America, Latin America, and Europe. The acquisition will further enhance Verisk’s position as a key provider of data, analytics, and decision support solutions to financial institutions globally.
Argus, based in White Plains, New York, maintains the most comprehensive de-personalized direct observation consortia data sets for the payments industry. Argus leverages this consortia data and provides proprietary solutions and information that enable clients to achieve higher profitability and growth through enhanced marketing and risk management decisions. Argus has deployed unique technology to manage vast data sets efficiently and currently manages more than one petabyte of payments data. For the past 15 years, Argus has provided important insights for its customers, who currently include most of the leading retail banks and credit card issuers in the United States, Canada, and the United Kingdom.
Argus has records on more than 1.3 billion card accounts and logs about 4.5 billion transactions a month. The closely held company gathers data from 19 of the 20 largest U.S. credit-card issuers and balance information from retail banks holding about 30 percent of the nation’s deposits.
Source: Pehub.com
