We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Equifax Opens Second Office in Dublin, Expands Globally
Read MoreHide Full Article
Equifax Inc (EFX - Free Report) is forging ahead with its plans to expand internationally. The information solutions company recently opened a second office in Dublin, Ireland, which will serve as its new information and technology (IT) centre. The centre will support Equifax’s IT operations in 24 countries across four continents.
Early this year, Equifax launched an IT talent centre in Dublin, which was meant to develop and support new solutions for the company. At that time, the company also hired almost 100 personnel. Equifax now plans to employ more than 100 people at the new facility.
Ireland: Favored Destination for US Tech Firms
Ireland continues to be a popular destination for U.S.-based technology companies, primarily due to its fast growing economy and large talent pool. According to the Wall Street Journal, “Ireland’s economy improved 26% in 2015, roughly 10 times the pace of other developed economies.”
Post Brexit, Dublin has emerged as a major business hub (and a probable replacement for London) for these companies, who intend to access Europe. This is evident from the pace of investment in recent times.
In May, Amazon (AMZN - Free Report) announced the creation of 500 positions to be hired over the next two years at a number of Dublin facilities. In June, Google inaugurated a €150 million data centre in West Dublin – the company’s second major data centre investment in the country.
Other technology companies expanding its workforce in Ireland include the likes of Slack, HubSpot, Ipswitch and Facebook . Most recently, fitness wearables company Fitbit announced the setting up of its European headquarters in Dublin. Notably, the company has doubled its staff count in Ireland over the past year and is likely to add more in the years to come.
Although the recent tax fiasco with Apple (AAPL - Free Report) has created an uncertain business environment for American enterprises, we believe the large talent pool holds significant opportunities for companies like Equifax.
Of late, Equifax has been focusing on expanding its international footprint. In February, the company acquired Australia-based data and analytic services provider Veda for cash consideration of approximately $1.7 billion (2.4 billion Australian dollars). Veda has been integrated into the newly created Asia Pacific reporting unit within the International segment.
Notably, international revenues (including Europe, the Asia-Pacific, Canada and Latin America) surged 51% year over year to $218.8 million in the second quarter of 2016. On a constant-currency basis, revenues soared 62%. The Veda buyout boosted Asia-Pacific revenues from $1.9 million in the second quarter of 2015 to $72.3 million in the second quarter of 2016.
Currently, Equifax has a Zacks Rank #3 (Hold).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Equifax Opens Second Office in Dublin, Expands Globally
Equifax Inc (EFX - Free Report) is forging ahead with its plans to expand internationally. The information solutions company recently opened a second office in Dublin, Ireland, which will serve as its new information and technology (IT) centre. The centre will support Equifax’s IT operations in 24 countries across four continents.
Early this year, Equifax launched an IT talent centre in Dublin, which was meant to develop and support new solutions for the company. At that time, the company also hired almost 100 personnel. Equifax now plans to employ more than 100 people at the new facility.
Ireland: Favored Destination for US Tech Firms
Ireland continues to be a popular destination for U.S.-based technology companies, primarily due to its fast growing economy and large talent pool. According to the Wall Street Journal, “Ireland’s economy improved 26% in 2015, roughly 10 times the pace of other developed economies.”
Post Brexit, Dublin has emerged as a major business hub (and a probable replacement for London) for these companies, who intend to access Europe. This is evident from the pace of investment in recent times.
In May, Amazon (AMZN - Free Report) announced the creation of 500 positions to be hired over the next two years at a number of Dublin facilities. In June, Google inaugurated a €150 million data centre in West Dublin – the company’s second major data centre investment in the country.
Other technology companies expanding its workforce in Ireland include the likes of Slack, HubSpot, Ipswitch and Facebook . Most recently, fitness wearables company Fitbit announced the setting up of its European headquarters in Dublin. Notably, the company has doubled its staff count in Ireland over the past year and is likely to add more in the years to come.
Although the recent tax fiasco with Apple (AAPL - Free Report) has created an uncertain business environment for American enterprises, we believe the large talent pool holds significant opportunities for companies like Equifax.
EQUIFAX INC Price and Consensus
EQUIFAX INC Price and Consensus | EQUIFAX INC Quote
Global Expansion Driving Growth
Of late, Equifax has been focusing on expanding its international footprint. In February, the company acquired Australia-based data and analytic services provider Veda for cash consideration of approximately $1.7 billion (2.4 billion Australian dollars). Veda has been integrated into the newly created Asia Pacific reporting unit within the International segment.
Notably, international revenues (including Europe, the Asia-Pacific, Canada and Latin America) surged 51% year over year to $218.8 million in the second quarter of 2016. On a constant-currency basis, revenues soared 62%. The Veda buyout boosted Asia-Pacific revenues from $1.9 million in the second quarter of 2015 to $72.3 million in the second quarter of 2016.
Currently, Equifax has a Zacks Rank #3 (Hold).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>