Equifax Co., Ltd. This month, previously announced Brazilof Boa Vista Servisosa deal that gives. Atlantadeepening exposure to credit rating agencies based in south americalargest country in
Equifax acquired the company for 8 BRL per outstanding share for 3.1 billion BRL ($640 million based on the exchange rate as of August 2).
Boa Vista is now Equifax do Brasilitself 80% owned by Equifax Inc. Sao Paulo Commercial Association and other former Boa Vista shareholders own the remaining 20% of the Brazilian subsidiary.
Boavista will remain CEO, Marcio Fabriceformer Interim CEO of Equifax Inc. Paulino Barrosformerly the company director of Equifax Asia The President joins the Board of Directors of Equifax do Brasil. Barros previously served on Boavista’s board of directors.
“The merger of the two companies marks an exciting new global chapter for customers and employees of both Equifax and Boa Vista Serviços, and expands Equifax International’s footprint in the rapidly growing $2 billion target market in Brazil. said Mark Begor of Equifax Inc. CEO said in a news release.
He noted that Equifax has made 14 acquisitions since 2021 as it continues to expand beyond traditional consumer credit ratings and scoring into new industry verticals. The acquisition of Boa Vista gives the company a wealth of new data to inform its processes in Brazil.
The company has moved its IT infrastructure to the cloud, allowing it to “scale and adapt to the specific needs of the countries in which it operates,” he said. Lisa Nelson, President of Equifax International. “At the same time, the company is focused on further introducing his existing Equifax Enterprise strengths into the international sphere.”
The company says Equifax Cloud will give lenders and service providers real-time access to 4 billion records, promising faster performance and better security.
Equifax estimates that Brazil, with a population of 207 million, has 34 million unbanked or unbanked consumers.