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Equifax Acquires TrustedID for About US$30 Million

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July 9
4:20 AM 2013

Equifax, a credit company, bought TrustedID for an estimated US$30 million. TrustedID merged with the Personal Solutions division of Equifax. The Personal Solutions division handled identity protection and credit monitoring solutions of the B2C service arm of Equifax.

According to TrustedID Chief Executive Officer, Scott Mitic, "In today's digital economy and culture, Americans are becoming increasingly aware of identity, reputation and privacy issues." TrustedID sold various tools addressing these identity and privacy issues. These tools included not only those for identity and privacy protection but also offer services for monitoring of online reputation on social media. TrustedID was founded on 2005 and was based on Palo Alto, California.

On the other hand, Atlanta-based Equifax organized and assimilated data for 81 million companies with about 500 million individuals. "Together, Equifax and TrustedID can deliver a powerful combination in helping consumers better understand and address two key elements of financial well-being-credit and identity," Mitic added regarding the acquisition deal.

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