Equifax Announces Agreement to Acquire Barnett Associates, Inc.
ATLANTA (July 11, 2016) – Equifax Inc. (NYSE: EFX) (‘Equifax’) announced today it has signed an agreement to acquire unemployment tax and claims management specialists Barnett Associates, Inc. (‘Barnett’), as well as the Verify Job Systems (VJS) verifications business. The transaction is subject to satisfaction of customary conditions with closing anticipated to occur in late July. Upon closing, Barnett and VJS will become part of the Equifax Workforce Solutions business unit, a leading provider of human resource compliance, analytics and verification technology and services. Terms of the transaction were not disclosed.
“Equifax Workforce Solutions is committed to helping businesses of all sizes solve their most complex human resources, payroll and tax challenges, through a combination of comprehensive data, outstanding service and advanced technology,” said Scott Collins, senior vice president, Equifax Workforce Solutions. “Barnett shares our passion for delivering solutions that elevate how businesses address their crucial workforce activities like processing unemployment claims and employment and income verifications. This acquisition complements our growth strategy, as we continue to provide our customers with the meaningful insights and innovative solutions they have come to expect from Equifax.”
Through Equifax Workforce Solutions, clients gain access to solutions that help improve how they manage unemployment claims, tax services and employment and income verifications. With a ‘customer-first’ approach, Equifax helps its clients benefit from streamlined processes that minimize administrative burden, reduce costs and help them achieve compliance.
“Combining Equifax Workforce Solutions industry leading technology and expanded service offerings with Barnett’s 33 years of unemployment claims and tax expertise and leading customer service is a win-win for our clients,” said Paul Barnett, president, Barnett Associates Inc. “Our mission of saving businesses on their unemployment costs will be strengthened by this deal.”
Equifax powers the financial future of individuals and organizations around the world. Using the combined strength of unique trusted data, technology and innovative analytics, Equifax has grown from a consumer credit company into a leading provider of insights and knowledge that helps its customers make informed decisions. The company organizes, assimilates and analyzes data on more than 800 million consumers and more than 88 million businesses worldwide, and its databases include employee data contributed from more than 5,000 employers. Equifax Workforce Solutions, an Equifax business unit, is a leading provider of human resource compliance, analytics and verification technology and services.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia-Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,200 employees worldwide.
Some noteworthy achievements for the company include: Ranked 13 on the American Banker FinTech Forward list (2015); named a Top Technology Provider on the FinTech 100 list (2004-2015); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2015); named one of Fortune’s World’s Most Admired Companies (2011-2015); named one of Forbes’ World’s 100 Most Innovative Companies (2015). For more information, visit www.equifax.com/business or www.equifax.com.