Equifax Completes Acquisition of Efficient Hire
Equifax (NYSE: EFX) has completed its acquisition of Efficient Hire, a cloud-based provider of recruiting and HR management solutions, originally announced on January 31, 2022. This acquisition supports Equifax's strategy to strengthen its Workforce Solutions business unit and diversify growth. Efficient Hire focuses on hourly employers in sectors like hospitality and staffing, providing crucial HR management tools. The acquisition is not expected to significantly impact Equifax's 2022 financial results, but it aims to enhance service delivery by integrating Efficient Hire's solutions and capabilities into Equifax's existing offerings.
- Strengthens Workforce Solutions business unit.
- Enhances employer- and HR-focused service portfolio.
- No significant impact on 2022 financial results expected, allowing for strategic growth.
- None.
ATLANTA, Feb. 7, 2022 /PRNewswire/ -- Equifax® (NYSE: EFX) announced today 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."
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and forward-looking information. All statements that address operating performance and events or developments that we expect or anticipate will occur in the future, including statements relating to our ability to successfully consummate the proposed transaction, the expected financial and operational benefits, synergies and growth from the Efficient Hire acquisition and our ability to integrate Efficient Hire and its products, services, technologies, IT systems and personnel into our operations, and similar statements about our outlook and our business plans are forward-looking statements. We believe these forward-looking statements are reasonable as and when made. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in our 2020 Form 10-K and subsequent SEC filings. As a result of such risks and uncertainties, we urge you not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 13,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION
Daniel Jenkins for Equifax Workforce Solutions
mediainquiries@equifax.com
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SOURCE Equifax Inc.
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