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Equifax Acquires SEK S.r.l., Leading Italian Information Company Further Strategic Expansion of Equifax Information Services In Key European Market
Atlanta (ots-PRNewswire) - Building on its success as a leader in international information services, Equifax Inc. (NYSE: EFX) announces it has acquired SEK S.r.l., a leading Italian online information company. The move advances Equifax's strategic development of a European information network. SEK brings a wide range of mortgage and lien information on consumer real estate, commercial information, public data and consumer data to Equifax. Equifax, with European headquarters in the United Kingdom, already provides a range of services in the United Kingdom, Ireland, Spain and Portugal.
"This acquisition expands our core information services business into Italy and enables Equifax to build a pan-European product offering for our key clients," said Lee A. Kennedy, Equifax president and chief operating officer. "Expansion into Italy strengthens Equifax's position to bid for major European projects and to develop a European relationship with clients worldwide."
SEK, based in Pontedera, has offices throughout Italy in all major business centers. Serving approximately 4,200 customers in the Italian financial sector, SEK had revenue of $12.8 million over the past twelve months. With data on approximately 15 million Italian households and all major Italian businesses, SEK is well known in the market for the quality of its services.
"SEK has achieved exceptional growth in the Italian market over the 30 years we've been in business because of our focus on quality," says Gianluca Puccinelli, co-founder of SEK and a leader in the Tuscan business community. "To maintain our market leadership we needed to be part of an organization with a global scope to supply information and decision support throughout Europe and elsewhere, yet we wanted to align ourselves with a company that shares our commitment to quality of customer service. Equifax is that company." Puccinelli will continue in a consulting role with Equifax Europe.
SEK will become part of Equifax Europe and will come under the leadership of Miguel Rueda, Equifax Group Director for Southern Europe, in Madrid, Spain. Italy's GDP of $1.1 trillion ranks fourth in Europe, behind Germany, France and the U.K. Italy represents a major European market and fits well with Equifax's strategy for Southern Europe.
Equifax (www.equifax.com ), a worldwide leader in enabling and securing global commerce, brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. Atlanta-based Equifax serves the financial services, retail, credit card, transportation, telecommunications/utilities, information technology and healthcare industries and government. Equifax adds knowledge, expertise, convenience and security to provide value-added solutions and processes for its customers wherever they do business, including the Internet and other networks. Equifax employs about 13,000 associates in 16 countries with sales in almost 50 and has $1.9 billion in revenue.
Statements in this press release that relate to Equifax's future plans, objectives, expectations, performance, events and the like are "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in worldwide and U.S. economic conditions that materially impact consumer spending and consumer debt, changes in demand for the Company's products and services, risks associated with the integration of acquisitions and other investments, the spin-off of Payment Services on a timely basis without adverse impact on the Company's operations, and other factors discussed in the "forward-looking information" section in the management's discussion and analysis included in the annual report on Form 10-K for the year ended December 31, 1999 and 10-Q for the period ending September 30, 2000.
Contact: Dave Mooney
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Web site: http://www.equifax.comOriginal-Content von: Equifax Inc., übermittelt durch news aktuell