Equifax to Acquire Efficient Hire
Equifax (NYSE: EFX) announced a definitive agreement to acquire Efficient Hire, enhancing its Workforce Solutions division. This acquisition aims to provide more comprehensive services in a competitive hiring landscape. Efficient Hire specializes in cloud recruiting, onboarding, and HR management for hourly employers, particularly in industries like hospitality and staffing. The deal is expected to close in February 2022 and will not materially impact Equifax's 2022 financial results. The acquisition reflects Equifax's strategy to diversify and strengthen its service offerings in the HR and recruitment domain.
- Acquisition of Efficient Hire enhances Equifax's Workforce Solutions division.
- Efficient Hire's solutions target the needs of hourly employers in key industries.
- The transaction aligns with Equifax's strategy for diversified growth.
- The acquisition is not expected to materially impact Equifax's 2022 financial results.
ATLANTA, Jan. 31, 2022 /PRNewswire/ -- Equifax® (NYSE: EFX) announced today that it has signed a definitive agreement to acquire Efficient Hire, a provider of cloud recruiting, onboarding and HR management solutions. This acquisition will enable Equifax Workforce Solutions to bring employers more of the services and insights they need to help them manage amidst a rapidly changing hiring and employment landscape.
"The Efficient Hire acquisition demonstrates our commitment to reinvesting our 2021 outperformance in bolt-on acquisitions that further position Equifax for diversified growth," said Mark W. Begor, CEO of Equifax. "Efficient Hire will enhance our robust suite of employer services, and bolster our largest and fastest-growing business: Workforce Solutions. As the only cloud-native company of our kind, we will leverage the Equifax Cloud™ to rapidly integrate Efficient Hire's solutions into the Equifax portfolio, helping us to drive innovation and provide customers with unique access to more capabilities, product suites and services."
Efficient Hire offers a portfolio of solutions that is 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).
"Now more than ever, employers are in a battle for talent," said Joe Muchnick, Senior Vice President of Employer Services and Talent Solutions for Equifax Workforce Solutions. "The addition of Efficient Hire further demonstrates our commitment to helping employers attract and retain the talent they need to help grow their businesses."
Based in Denver, Efficient Hire serves customers nationwide. Its leaders and employees will join the Equifax Workforce Solutions business once the transaction has closed.
"Over the past 13 years, Efficient Hire has helped hourly employers hire more than 6.6 million new employees, and provided the tools to help them create a consistent and more efficient hiring process," said David Kenney, Founder and CEO of Efficient Hire. "Our team is invigorated by the opportunities that lie ahead, as we leverage Equifax's renowned capabilities in analytics and technology for the benefit of our customers."
The transaction is subject to customary closing conditions and is expected to close in February 2022. The acquisition is not anticipated to have a material impact on Equifax's 2022 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 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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