EQUIFAX ACQUIRES INTEGRATEC, INC.
ATLANTA, Aug. 9 /PRNewswire/ -- Equifax, Inc. (NYSE: EFX) announced today that it has acquired Integratec, Inc. for approximately $23 million. Integratec, a privately held company headquartered in Atlanta, is one of the nation's largest providers of outsourcing services to the credit industry. The company fulfills the needs of credit granting companies desiring to outsource or augment labor-intensive back-office functions to enhance competitiveness. With approximately 800 full- and part-time employees, Integratec's full range of services includes teleservicing, new application processing, customer service, risk management, collections and loss recovery. The company's revenues for 1992 were $32 million. Thomas F. Chapman, executive vice president and group executive for Equifax Financial Information Services, said, "The acquisition of Integratec is consistent with our long-range strategy to provide all our customers with the absolute 'total solution' to their marketing and risk management needs." Chapman added, "As part of the Financial Information Services Group team, Integratec's impressive market presence will significantly enhance Equifax's ability to market a more comprehensive range of innovative information-based products and services." Donald K. Griffin, senior vice president and general manager of Integratec, said: "Integratec has a strong reputation for integrity and delivering measurable value in the people-intensive operations that support credit and financial operations. Equifax is known for world class innovation, technology, and unmatched information management expertise. In joining Equifax, we realize a unique opportunity to provide our clients with much more powerful and complete solutions in accounts receivable management, telemarketing and full credit card servicing." Equifax Inc. is the leading provider of information for consumer financial transactions. Established in 1899 in Atlanta, Equifax today has 12,000 employees in the United States, Canada and Europe. Equifax provides information services and automated systems that help its customers grant credit, insure lives and property, authorize checks, process credit card transactions, market products, control health care costs, and complete other transactions that benefit the economy, business and consumers. Equifax's revenues for the year ending Dec. 31, 1992, were more than $1.1 billion. -0- 8/9/93 /CONTACT: Julie Pulliam, public relations manager, corporate public affairs of Equifax, 404-888-5028/ (EFX)
CO: Equifax, Inc.; Integratec, Inc. ST: Georgia IN: FIN SU: TNM
RA-BN -- AT002 -- 0612 08/09/93 09:00 EDT
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|Date:||Aug 9, 1993|
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