Equifax announced that its subsidiary, Equifax Information Services, has entered into an asset purchase agreement with CSC Credit Services, a subsidiary of Computer Sciences Corporation, to purchase certain credit services business assets and operations of CSC for $1 billion in cash.
The transaction is expected to occur by year-end.
Equifax also said it has entered into a new $350 million, 364-day revolving credit facility with Bank of America, as administrative agent and a lender, JP Morgan Chase, SunTrust and Wells Fargo to supplement an existing $500 million senior revolving credit facility. The new credit facility is available for general corporate purposes including acquisitions.
To read the Equifax news release, click here.