Equifax Inc. (NYSE: EFX) has confirmed the acquisition of Data- Crédito as the company is planning to expand its international presence. Data-Crédito has earned recognition as the largest consumer credit reporting agency in the Dominican Republic. Since its inception in 1998, Data-Crédito offer consumer credit bureau services, analytics, and scores.
After the acquisition of Data-Crédito, Equifax has now completed 11 acquisitions worth more than $3 billion in the last 18 months, all of which have strengthened and broadened Equifax. More data enables customers to make better decisions for their customers. With the purchase of Data-Crédito, it will be able to supply lenders and service providers with valuable new insights that will help them better understand their consumers.
Equifax will facilitate financial institutions in the Dominican Republic to look more deeply into consumers' financial profiles as part of the lending process by bringing the Equifax Cloud to credit reporting and scoring, allowing them to prudently enable new mainstream financial services opportunities to financially excluded individuals.
Furthermore, Alberto Adam, Corporate VP, will continue to lead Data-Crédito, which is now part of Equifax's International business area. The combination of Equifax and Data-Crédito will transform the credit landscape in the Dominican Republic, Adam said, by assisting customers in generating strategic insights and making smarter decisions.
Additionally, Equifax has spent more than $3 billion on strategic acquisitions since the beginning of 2021 in order to enhance the company for the future. The acquisition is unlikely to have a significant influence on Equifax's financial results in 2022.