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ChoicePoint Acquires DATEQ Information Network, Inc.


ATLANTA--(BUSINESS WIRE)--Jan. 5, 1999--

Acquisition enhances company's personal automobile

underwriting Underwriting

1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt).

2. The process of issuing insurance policies.
 services

ChoicePoint Inc. (NYSE NYSE

See: New York Stock Exchange
: CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. ) announced today the acquisition of DATEQ Information Network, Inc. of Norcross, Georgia Norcross is a city in Gwinnett County, Georgia, United States. The city had a population of 8,410 in 2000. Census Estimates for 2005 show a population of 9,887. History
Norcross was founded in 1866 by John Thrasher.
 (DATEQ) from Trans Union Corporation, and an agreement which allows ChoicePoint to sell Trans Union credit reports to its customers. Terms of the acquisition were not disclosed.

DATEQ is a provider of underwriting services to the personal automobile insurance market, including its UNCLE(tm) automobile claims database, motor vehicle records and DADS(tm), DATEQ's driver discovery product. Under the agreement, ChoicePoint will acquire 100% ownership of DATEQ from Trans Union. Additionally, ChoicePoint can now offer Trans Union credit reports to ChoicePoint customers through ChoicePoint's new CP Switch(tm) delivery platform.

"We continue to make investments to more fully serve the industry's evolving information needs," explained David Lee David Lee may refer to:
  • David Lee (physicist), (b. 1931) a Nobel Prize winning physicist
  • David S. Lee (business), (b. c1938) CEO of eOn Communications Corporation
  • David Lee (Baltimore Colts), (b. 1943) former Baltimore Colts punter
  • David Lee (politician), (b.
, ChoicePoint senior vice president. "This relationship enhances our expanding credit services to ChoicePoint customers and offers broader information products to DATEQ customers."

"Our focus in the insurance industry is on offering our core credit products directly to customers," stated Jay Frank, senior vice president of Trans Union. "Our decision to exit the DATEQ business sharpens that focus, and the relationship with ChoicePoint brings value to the customers of both companies in the process."

ChoicePoint currently offers a complete range of information products and services to personal lines property and casualty insurance customers. The company recently launched CP Switch, a credit information delivery system allowing access to all three major credit bureau reports based on an individual customer's requirements. In addition, ChoicePoint recently announced the development of pre-screen marketing services and the acquisition of Customer Development Corporation (CDC See Control Data, century date change and Back Orifice.

CDC - Control Data Corporation
) to address its customers' increasing need for targeted customer acquisition and retention programs.

ChoicePoint (NYSE:CPS) is among the world's largest single-source providers of information and custom systems to mitigate insurance, business and government risk and fraud. Based in Alpharetta, Georgia Alpharetta is a city in Fulton County, Georgia, United States. As of 2006 census estimates, the city had a total population of 43,424[1].

Selected for its location next to a spring, it began as a campground, and was originally known as
, the company serves more than 5,000 individual customers and institutions worldwide, including Fortune 500 companies, federal, state and local government agencies, and the nation's top insurance carriers. ChoicePoint provides comprehensive risk management information to the commercial and personal lines insurance markets, including life and health and property and casualty underwriting and claims information. In business and government markets, services include pre-employment background screening and drug testing, public records information, UCC An abbreviation for the Uniform Commercial Code.  search and filing.

In 1997, ChoicePoint and its more than 3,700 industry professionals generated over $417 million in revenues helping companies and government agencies better manage business risk. For more information, contact ChoicePoint, 1000 Alderman ALDERMAN. An officer, generally appointed or elected in towns corporate, or cities, possessing various powers in different places.
     2. The aldermen of the cities of Pennsylvania, possess all the powers and jurisdictions civil and criminal of justices of the
 Drive, Alpharetta, Georgia 30005, or visit www.choicepointinc.com.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jan 5, 1999
Words:430
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