Court Approves TransUnion's Bid to Acquire TLO
CHICAGO, IL--(Marketwired - Nov 22, 2013) - TransUnion announced today that the U.S. Bankruptcy Court for the Southern District of Florida has approved its bid to acquire TLO, a leading company in the risk information and analytics industry based in Boca Raton, Fla. Today's decision marks the end of a court-managed sale process that included a motion filed by TransUnion in October to become the so-called stalking horse bidder for TLO.
"TransUnion and TLO will be a powerful combination. TLO's capabilities are highly complementary to our own," said Jim Peck, TransUnion's president and CEO. "Coupled with TransUnion's sophisticated technology, high powered analytics and robust data, we are well positioned to help a variety of organizations and businesses make better decisions, faster."
Under the terms of the offer selected today by the court as the winning bid, TransUnion will purchase TLO for $154 million in cash. The transaction, which is expected to close by the end of 2013, will not materially affect TransUnion's financial results for 2013.
As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering high quality data and integrating advanced analytics and enhanced decision-making capabilities. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion reaches businesses and consumers in 33 countries around the world on five continents. www.transunion.com/business