Equifax announced a definitive agreement to acquire dispute management software company Midigator, focusing on the complementary nature to the company’s 2021 acquisition of Kount in their press release. While this is one of several Equifax acquisitions focused on identity, fraud and risk management in digital channels, it is the first with a post-transaction focus.
Midigator provides solutions for post-authorization, chargeback management and dispute management solutions with a focus on data analytics and automation. The acquisition is expected to close in the third quarter of 2022 with an undisclosed price. Equity investors LLR Partners, who invested in Midigator in 2018, will exit the business as part of the deal.
Each of the three major credit bureaus have made extensive investments focused on closing the loop between traditional and online identities. Mark W. Begor, Equifax CEO, made direct mention of this, saying that Equifax is expanding their “Identity & Fraud capabilities with the acquisition of Midigator. The New Equifax is much more than a credit bureau.” Begor also touched on the addition of post-transaction fraud management, adding that the acquisition of Midigator further grows the “robust differentiated data assets and Kount acquisition in 2021 to bring global businesses the information and solutions they need to better manage fraud across the complete customer lifecycle.”
Brad Wiskirchen, the founding CEO of Kount, weighed in on the acquisition as well, expressing his belief “that Midigator's chargeback representment and dispute management solutions are a strong complement to the current Equifax digital enablement and fraud control offerings.” Equifax acquired Kount for $640 million in 2021.
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