14 DAY TRIAL // US credit reporting agency Equifax has acquired TrustedID, a company that specializes in providing comprehensive identity protection solutions. TrustedID will become part of Equifax Personal Solutions, the company’s credit monitoring and identity protection business unit.
“TrustedID is a leading provider of identity protection solutions with innovative offerings, a flexible technology platform and strong partner relationships. By combining these capabilities with our operational, product, marketing and data assets, we will continue to enhance and expand our suite of credit and identity solutions to meet consumer needs,” commented Trey Loughran, president of Equifax Personal Solutions.
“This marks the start of an exciting new chapter in our ongoing journey to empower consumers with the knowledge and tools to be their financial best.”
TrustedID services are used by a large number of consumers to protect themselves against identity theft. The company’s solutions also allow users to manage their reputation on social media websites such as Twitter, LinkedIn and Facebook.
It’s also worth noting that TrustedID offers credit and identity theft protection services to over 37 million AARP Services customers as a result of an exclusive partnership between the two companies.
“We are delighted to join forces with Equifax Personal Solutions and help drive the business to new levels of innovation and growth,” said Scott Mitic, CEO of TrustedID.
Mitic added, “In today's digital economy and culture, Americans are becoming increasingly aware of identity, reputation and privacy issues. Together, Equifax and TrustedID can deliver a powerful combination in helping consumers better understand and address two key elements of financial well-being -- credit and identity.”
The financial terms of the acquisition have not been publicly disclosed. However, AllThingsD has learned from sources close to the deal that Equifax has paid just over $30 million (€23 million).