8-KAcquisitions & DispositionsRegulation FDExhibits & Filings

EQUIFAX INC 8-K Report, Acquisition Completed (Feb 29, 2016)

Filed February 29, 2016For Securities:EFX

Summary

Equifax Inc. (EFX) has announced the completion of its acquisition of Veda Group Limited (Veda) on February 24, 2016. This significant transaction, valued at approximately $1.9 billion, involved acquiring 100% of Veda's ordinary shares. The deal was funded through a combination of existing cash and borrowings under credit facilities, consisting of approximately $1.7 billion in cash consideration and $188.4 million in assumed debt. This acquisition represents a material expansion for Equifax, particularly in the Australian and New Zealand markets where Veda is a leading data and analytics company. Investors should note that detailed financial statements and pro forma information related to the acquired Veda business will be filed by amendment within 71 days of this report. The press release announcing this completion was issued on February 25, 2016.

Key Highlights

  • 1Equifax Inc. has completed the acquisition of Veda Group Limited for approximately $1.9 billion.
  • 2The acquisition price includes $1.7 billion in cash and $188.4 million in assumed debt.
  • 3Equifax acquired 100% of Veda's ordinary shares.
  • 4The transaction was funded through existing cash on hand and borrowings from term loan and revolving credit facilities.
  • 5Veda Group Limited is a leading data and analytics company, likely strengthening Equifax's presence in international markets (Australia/New Zealand implied).
  • 6Detailed financial statements and pro forma information for Veda will be filed later via amendment.
  • 7The completion was announced via press release on February 25, 2016.

Frequently Asked Questions

While not explicitly detailed in this 8-K, the acquisition of Veda, a leading data and analytics company in Australia and New Zealand, suggests a significant expansion of Equifax's international footprint and capabilities in those key markets. This likely enhances Equifax's data aggregation, analytics, and decisioning services globally.

Equifax financed the $1.9 billion acquisition through a combination of approximately $1.7 billion in cash consideration and $188.4 million in assumed debt. The cash component was funded using existing cash on hand and borrowings under its term loan and 364-day revolving credit facilities.

The 8-K filing states that Equifax will file the required financial statements of the acquired business (Veda) and pro forma financial information by amendment no later than 71 calendar days after the filing date of this report (February 29, 2016). Investors should look for this amendment to understand the detailed financial integration.

The total consideration for the acquisition of Veda Group Limited was approximately $1.9 billion. This comprised approximately $1.7 billion in cash paid to shareholders and the assumption of $188.4 million in Veda's debt.