Equifax acquires Kount in a $640 million deal to boost Fraud Prevention and Digital Identity Capabilities
Equifax, a global leader in data, analytics and technology, announced it will spend $640 million on Kount, an AI-driven provider of digital identity and fraud prevention solutions. This acquisition will enhance Equifax’s digital identity and fraud prevention capabilities, and position Equifax for future growth in the digitally evolving economy.
Kount is a leader in digital fraud prevention solutions. It helps businesses of all sizes protect themselves and their customers against fraudsters. Kount’s platform utilizes advanced AI and machine learning to detect and prevent fraud activity in real time. This allows businesses to reduce fraud losses and increase operational efficiency while improving the customer experience.
Equifax’s fraud prevention and identity verification solutions include identity theft protection and credit monitoring. The acquisition of Kount is a complement to Equifax’s existing fraud prevention, identity verification, and fraud detection solutions. Equifax’s extensive data resources and analytics capabilities will allow Kount to combine its advanced technology with Equifax’s massive data sets and analytics capabilities to provide a comprehensive and integrated fraud prevention solution for customers.
Mark W. Begor (CEO of Equifax) expressed excitement over the acquisition. He stated that “Kount has a strong reputation for innovation, customer service, and is a leader in AI-driven Fraud Prevention and Digital Identity Solutions.” We will be able deliver more value to our customers by combining Kount’s technology with Equifax’s data assets, analytics expertise, and other relevant information.
Equifax plans to acquire Kount as part of its larger strategy to grow its digital capabilities and become a leader in data-driven solutions for business. In recent years, Equifax has invested heavily in technology, analytics, and the development of Equifax Ignite, a cloud-based data analytics platform. It also acquired DataX, a data and analytics provider.
Equifax’s dedication to innovation and growth is evident in its financial performance over the past years. Equifax reported revenue of $3.8 billion for 2020, an increase of 17% over the previous year. It has delivered consistent earnings growth and shareholder returns.
Subject to regulatory approvals, the acquisition of Kount should close in the first quarter 2021. Kount will be part of Equifax’s US Information Solutions business unit (USIS).
Equifax’s acquisition Kount represents a significant leap forward in its digital capabilities and fraud prevention strategies. Equifax will now be able offer customers a more complete and integrated solution by combining Kount’s AI-driven technology and Equifax’s vast analytics and data resources. Equifax’s acquisition will position it for continued growth in the digitally evolving economy. This is a testament to the company’s dedication to innovation and customer service.
