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The all-cash transaction is worth $117 million.
Credit card processor Alliance Data Systems today agreed to buy credit reporting agency Equifax Inc.’s direct marketing services unit for $117 million in cash.
The transaction is expected to close in the third quarter, says Alliance Data.
Equifax’s direct marketing services division offers database marketing and hosting services, as well as data offerings that include U.S. customer demographic information. The division, which has about 200 full-time employees, will be folded into Alliance Data's Epsilon business.
"Today's announcement is further evidence of our ongoing commitment to not just maintain, but enhance Epsilon's leadership position in delivering effective solutions that help our clients grow their businesses,” says Bryan Kennedy, Epsilon president. “We look forward to welcoming our new associates, continuing to deliver best-in-class services to the DMS clients, and further enhancing our offering that will benefit all our clients."
Alliance Data is a vendor for three retailers in the Internet Retailer Top 500 Guide (Best Buy Co., Orchard Brands and New York & Co. Inc.).
Equifax says it will use the proceeds from the sale for general corporate purposes.