Together, Verisk Financial and TransUnion create a “full wallet view” of consumer spend and produce actionable new insights into consumer behavior for participating customers
TransUnion announced that it has completed the acquisition of Verisk Financial Services, the financial services business unit of Verisk, for $515 million.
Leading financial institutions, payment providers and retailers worldwide rely on Verisk Financial for a variety of data, insights, and analytics – in addition to advisory services – to gain a clear perspective on where their businesses stand today and how to best position themselves for future success. Verisk Financial’s leading business, Argus Information & Advisory Services Inc. (“Argus”), provides proprietary competitive portfolio performance insights sourced from a consortium of financial institutions, complementing TransUnion’s ability to help participating customers understand consumer behavior through a “full wallet view.”
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“We’re thrilled to officially welcome Verisk Financial and look forward to a smooth integration process,” said Chris Cartwright, President and CEO of TransUnion. “Providing efficient online solutions for the financial needs of today’s digital-savvy consumer is critical, and the combined capabilities of TransUnion and Verisk Financial will help our customers by allowing them to make better and faster decisions.”
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Verisk Financial brings to TransUnion authoritative data sets for credit and debit card accounts and demand deposit account behavior, strengthening the company’s position as a leading provider of innovative solutions around the globe. We expect the combined company will better serve consortium members by providing enhanced insights and solutions to help them increase financial inclusion, acquire new accounts, and improve fraud prevention, risk management and targeting.
PJT Partners acted as lead financial advisor to TransUnion and Simpson Thacher & Bartlett LLP served as legal advisor to TransUnion.
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