ATLANTA and DETROIT - Continuing its track record of developing business partnerships with an eye toward moving beyond its core credit reporting business and expanding its position as a major contender in the information management and transaction processing industries, Equifax has acquired R.L. Polk & Co.'s Consumer Information Solutions (CIS) Group, including the direct marketing, data information services/Polk Verity, Compusearch/ Prospects Unlimited of Polk Canada, and Polk City Directory units of the group.
The transaction is expected to be completed by April 30, 2000.
As part of Equifax's strategic plan, the company plans to create a new unit that will provide various consumer database and direct marketing capabilities including:
* Direct marketing - list processing, direct marketing campaigns and consumer demographic and lifestyle analytical services;
* Data information services/Polk Verity - data capture, database management and direct consumer communications;
* Polk City Directory - an enhanced database of businesses and residences in more than 10,000 communities in North America, with targeted marketing solutions;
* Compusearch/Prospects Unlimited - Canadian micro-marketing data and database management.
John Healy, senior vice president and general manager of CIS' direct marketing unit, will head up the new unit as executive vice president and group executive, reporting to Lee Kennedy, president/COO, Equifax.
Alan Boyer, vice president of communications for Equifax explained that credit reporting remains Equifax's core business, but the company prefers to think of itself as an information services company. Since 1998, when Equifax acquired The Decisioneering Group and launched its e-commerce solutions unit, Equifax Secure, the 100-year old Equifax has been expanding what Boyer referred to as the "non-engineering" portion of its business, such as data mining.
"Our objective is to help businesses better understand consumers' buying habits and help them explore marketing programs to retain their current customer base as well as add new customers," he said. That includes being able to tap into information on consumers' lifestyle and buying preferences and bring buyers and sellers together through Equifax's information management, transaction processing and customer relationship businesses.
As a privately-held, international marketing information services provider, R.L. Polk's database from more than 250 data sources includes information on 180 million consumers (105 million households) including product registration data, direct marketing, geodemographic and analytical services.
Equifax's database includes business files and credit information on approximately 350 consumers. Unlike the Polk database, Equifax's database is regulated under the federal Fair Credit Reporting Act. Boyer stressed that the two databases will remain separate and businesses will only be able to access data from the Equifax database in accordance with permissible-purpose provisions in the law, such as plans to extend credit or insurance. He noted that Equifax and Polk take the privacy of consumers very seriously and expect to continue to respect the fine line between that issue and the legitimate use of consumer information. -
ekingoff@cutimes.com
