Equifax Inc. (EFX Quick QuoteEFX - Free Report) recently announced that it has completed the acquisition of Appriss Insights for $1.825 billion. The deal was initially announced on Aug 10.

Founded in 1994, Appriss Insights provides data used in public and workplace safety, law enforcement, fraud detection and prevention, and healthcare credentialing.

Appriss Insights is now a part of Equifax’s Workforce Solutions business unit. Brian Matthews, president at Appriss Insights, has joined Equifax as the senior vice president and general manager of the new Louisville, KY-based division of Equifax Workforce Solutions.

So far this year, shares of Equifax have gained 32.9% against 12.1% decline of the industry it belongs to.

Image Source: Zacks Investment Research

How Will Equifax Benefit?

The acquisition is expected to strengthen Equifax's Workforce Solutions business unit by widening its suite of verification capabilities, enhancing identity and fraud prevention offerings, and extending growth initiatives for comprehensive Workforce Solutions data hub. This should strengthen Equifax’s competitive position in the public and private sector decision intelligence market.

The deal is also expected to boost Equifax’s adjusted earnings per share in 2022.

Mark W. Begor, CEO of Equifax, stated, "The acquisition of Appriss Insights leverages the Equifax Cloud by expanding the breadth of differentiated data and insights that only Equifax can provide.”

Rudy Ploder, president at Equifax Workforce Solutions, stated, "The Appriss Insights team provides a powerful and valuable resource for employers and social service agencies."

Zacks Rank and Stocks to Consider

Equifax currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Some better-ranked stocks in the broader Zacks Business Services sector are Gartner (IT Quick QuoteIT - Free Report) , BGSF Inc. (BGSF Quick QuoteBGSF - Free Report) and Avis Budget (CAR Quick QuoteCAR - Free Report) , each carrying a Zacks Rank #2 (Buy).

The long-term expected EPS (three to five years) growth rate for Gartner, BGSF and Avis Budget is pegged at 13.5%, 20% and 27.5%, respectively.