Equifax Completes Acquisition of LawLogix

Rhea-AI Summary

Equifax (NYSE: EFX) has successfully completed the acquisition of LawLogix, a cloud-based provider of I-9 software and immigration case management solutions. Announced on July 21, 2022, this acquisition strengthens Equifax's Workforce Solutions business unit and expands its portfolio of employer-focused services. LawLogix's products, Guardian and Edge, support compliance with Form I-9 and E-Verify requirements while offering immigration case management capabilities. The transaction is not expected to materially impact Equifax's 2022 financial results.

Positive

• Acquisition of LawLogix strengthens Equifax's Workforce Solutions business unit.
• Enhances portfolio of employer- and HR-focused services.
• Integration of LawLogix products expected to drive future innovation.
• LawLogix's solutions improve compliance and streamline hiring processes.

Negative

• None.

Acquisition Expands Equifax Workforce Solutions Business Unit and Bolsters Company's Robust Portfolio of Employer Solutions

ATLANTA, Aug. 31, 2022  /PRNewswire/ -- Equifax® (NYSE: EFX) announced today that it has completed the acquisition of LawLogix, a leading provider of cloud-based I-9 software and immigration case management software. The definitive agreement to acquire LawLogix was announced on July 21, 2022. LawLogix is now part of the Workforce Solutions business unit, expanding the company's portfolio of employer- and HR-focused solutions that help firms manage their hiring and employment needs amidst a rapidly changing landscape.

"Equifax has expanded well beyond a traditional credit bureau and the acquisition of LawLogix marks the sixth acquisition in support of the continued growth and expansion of the Equifax Workforce Solutions business unit since the beginning of 2021," said Mark W. Begor, CEO of Equifax. "We are rapidly building a New Equifax. Leveraging our EFX Cloud™ infrastructure, we will integrate LawLogix into our suite of Workforce Solutions employer services, expanding our current capabilities and setting the stage for future innovation."  

LawLogix offers two cloud-based software as a service (SaaS) solutions: Guardian and Edge. Guardian helps employers with their Form I-9 and E-Verify requirements while providing a user-friendly I-9 workflow that supports organizations with a distributed workforce. Edge provides immigration law firms, non-profit organizations, and employers with comprehensive immigration case management software, including a customizable, easy-to-use client web portal. These solutions are supported by award-winning customer support representatives.

LawLogix, an Equifax company, is now a part of the Workforce Solutions business unit and will retain its presence in Phoenix. LawLogix President John Fay has assumed the role of Director of Product Strategy for LawLogix, an Equifax company.

"Both LawLogix and Equifax Workforce Solutions are focused on deploying our technology and expertise to help customers streamline important processes," said Fay. "We are excited for our future together, as we leverage Equifax capabilities in analytics and technology for the benefit of LawLogix customers."

The LawLogix transaction is not anticipated to have a material impact on 2022 Equifax financial results.

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 about the expected financial and operational benefits, synergies and growth from the LawLogix acquisition and our ability to integrate LawLogix 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 2021 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 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.

ABOUT LAWLOGIX

LawLogix assists millions of people every year through its innovative Electronic I-9 service, E-Verify and immigration case management software. Founded in 2000, LawLogix is a trusted SaaS provider for many prestigious immigration law firms, organizations and corporations. For more information about LawLogix and its suite of products, visit LawLogix.com.

FOR MORE INFORMATION
Daniel Jenkins for Equifax Workforce Solutions
mediainquiries@equifax.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/equifax-completes-acquisition-of-lawlogix-301615738.html

SOURCE Equifax Inc.

FAQ

What is the significance of Equifax's acquisition of LawLogix?

The acquisition strengthens Equifax's Workforce Solutions business and expands its portfolio of employer services.

When was the acquisition of LawLogix by Equifax announced?

The acquisition was announced on July 21, 2022.

What products does LawLogix offer after being acquired by Equifax?

LawLogix offers Guardian for I-9 compliance and Edge for immigration case management.

How will the acquisition impact Equifax's financial results for 2022?

The transaction is not expected to have a material impact on Equifax's 2022 financial results.

Who will lead LawLogix after the acquisition?

John Fay, the President of LawLogix, will serve as Director of Product Strategy.