US consumer credit report agency Equifax has acquired Fort Worth, Texas-based Rapid Reporting Verification Company, a provider of IRS tax transcript information and social security number authentication services, for $72.5m. Skip related content
Equifax said the acquisition will enable it to provide lenders with improved products, quality and services to help them better control fraud.
Trey Loughran, senior vice president of Corporate Development at Equifax, said: "Rapid Reporting's capabilities will allow us to offer lenders new and improved products, as well as more advanced fraud management services. Overall, this transaction will enable us to compete more effectively in a dynamic and rapidly changing market and offer even more effective, value-added fraud verification services."
Last month, Equifax agreed to acquire IXI Corp, a leader in collecting, analyzing and delivering consumer wealth and asset data, for $124m. Last year, it acquired a 28% stake in Global Payments Credit Services, a Russian credit information company, from Global Payments Europe.
