CHICAGO, Dec. 01, 2021 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) announced today that it has completed the acquisition of Sontiq, a leader in digital identity protection and security, for $638 million.
Sontiq provides solutions including identity monitoring, restoration, and response products and services to empower consumers and businesses to proactively protect against identity theft and cyber threats. Sontiq’s focus on identity security complements TransUnion’s digital identity assets and solutions, and the combined company will offer a comprehensive set of omnichannel solutions to make trust possible for consumers and businesses.
“We’re pleased to complete this acquisition and look forward to beginning the integration of Sontiq into TransUnion,” said Chris Cartwright, President and CEO of TransUnion. “Bringing the Sontiq family of products into TransUnion’s portfolio creates a best-in-class identity protection and cyber security platform that advances our focus on digital safety and security, providing a comprehensive set of tools for consumers and businesses to transact with greater certainty.”
Sontiq’s Intelligent Identity Security platform serves as the foundation of its identity theft and cyber threat protection solutions, which are delivered directly to consumers and indirectly through partners. Sontiq’s identity security monitoring products incorporate TransUnion’s credit data and are highly complementary to TransUnion’s capabilities. The combination of TransUnion and Sontiq will result in a more comprehensive set of offerings that are expected to significantly increase growth opportunities for TransUnion.
J.P. Morgan acted as exclusive M&A advisor to TransUnion and also acted as lead left financing arranger. Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC acted as joint arrangers for TransUnion. Loeb & Loeb LLP served as legal counsel to TransUnion. Jefferies acted as lead financial advisor to Sontiq. DLA Piper served as legal counsel to Sontiq.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.®
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.
Sontiq, a TransUnion company, is an intelligent identity security company arming businesses and consumers with a full range of award-winning identity and cyber monitoring solutions, as well as best-in class restoration and response offerings. Sontiq products empower millions of customers and organizations to be less vulnerable to the financial and emotional consequences of identity theft and cybercrimes. Sontiq has an outstanding track record for delivering high-touch support and fraud remediation services, demonstrated through its 99% customer satisfaction ratings.
TransUnion Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negative of these words and other similar expressions.
Factors that could cause actual results to differ materially from those described in the forward-looking statements include: failure to realize the synergies and other benefits expected from the acquisition of Sontiq; the possibility that the acquisition, including the integration of Sontiq, may be more costly to complete than anticipated; business disruption following the acquisition closing; risks related to disruption of management time from ongoing business operations and other opportunities due to the acquisition; the effects of pending and future legislation and regulatory actions and reforms; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets and other macroeconomic factors beyond TransUnion’s control; risks related to TransUnion’s indebtedness, including our ability to make timely payments of principal and interest and our ability to satisfy covenants in the agreements governing our indebtedness; the effects of the ongoing COVID-19 pandemic on TransUnion and Sontiq; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2020, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnion’s website (www.transunion.com/tru) and on the Securities and Exchange Commission’s website (www.sec.gov). Many of these factors are beyond our control. The forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.
Contact Dave Blumberg