Court gives approval for TransUnion-TLO merger
Leading data solutions provider TLO LLC made an announcement today about acquiring an approval from the US Bankruptcy Court for the Southern District of Florida regarding the acquisition of the company by TransUnion. The acquisition deal was valued at USD154 million, and is expected to be finalized before the end of this year. Moreover, the acquisition would reportedly not affect the 2013 financial results of TransUnion.
TLO is based in Boca Raton, Florida, and is a specialist in providing investigative and risk management tools that can be custom-made and scalable per client. the data tools are designed for due diligence, threat assessment, identity authentication, fraud prevention, and debt recovery. Its core product called TLOxp is recognized as a powerful technology for detecting connections between businesses, individuals and assets. Local governments via law enforcement agencies all over the world utilize TLoxp in tracking and identifying child predators at no charge.
TLO filed a Chapter 11 bankruptcy protection in May this year.
TransUnion is a leader in information and risk management in the world. The company, which is based out of Chicago, Illinois, provides services in information management and credit information. Founded in 1968, it grew with a customer base of 45,000 businesses and 500 million individual consumers all over the world.
TransUnion President and Chief Executive Officer Jim Peck said, "TransUnion and TLO will be a powerful combination. TLO's capabilities are highly complementary to our own. 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."
TLo Co-Chief Executive Officers Desiree Asher and Carly Asher Yoost said about the Court approval, "It has been our privilege to lead the TLO Tribe for the past eleven months. The successful conclusion of a competitive and robust bidding process is an enormous validation of the value of TLO. We are thrilled with the acquisition by TransUnion as we know it secures TLO as an aggressive competitor in the marketplace."