Equifax Acquires Market Knowledge Inc.
Enhances Total Solution for Customized Marketing
ATLANTA, February 7, 1996 -- Equifax today announced the acquisition of Market Knowledge Inc., a Chicago-based strategic marketing services company that helps businesses analyze customer data to increase the profitability of their marketing promotions.
Market Knowledge offers a broad range of services ranging from strategic consulting to marketing information systems and customer or prospect management. It uses state-of-the-art open system, client/server technology to offer a unique data management system called The Xprt, which allows executives to analyze unlimited amounts of data at their own desktops to make more accurate and informed strategic decisions.
Market Knowledge's path-breaking systems already have attracted the attention of many customers of the Equifax Financial Services Group "and the synergy here is strong," commented Thomas F. Chapman, executive vice president and group executive. "Our customers want to do a better job of selecting prospects and tailoring their product offerings and with Market Knowledge part of Equifax, they need make only one call."
Financial terms of the transaction were not disclosed. Market Knowledge's 1995 revenues exceeded $9 million.
Market Knowledge was founded in 1984 and today employs 100 people providing strategic marketing services to Fortune 500 companies in industries such as banking and finance, telecommunications, insurance, retail and packaged goods.
Ken Lomasney, founder and president, said, "We are very excited about bringing our capabilities to Equifax. The combination will give customers a strategic marketing total solution -- an Equifax signature service. " Lomasney will remain as head of the Market Knowledge division of Equifax Credit Services, reporting to ECS president John T. Rougeou. Michael Krzyston will remain as senior vice president and chief operating officer.
"Market Knowledge and our current credit marketing services truly fit together well," Chapman added. "This acquisition enables Equifax to expand these capabilities by giving our customers the power to further refine and focus their marketing efforts."
Equifax Inc. (NYSE: EFX), committed to Global Information Leadership for the Information Age, is the leading provider of information services that help businesses grant credit, authorize and process credit card and check transactions, insure lives and property and control healthcare costs. Established in 1899 in Atlanta, Equifax today employs 14,000 people throughout North and South America, the United Kingdom and continental Europe. Revenues for the year ended Dec. 31, 1995, exceeded $1.6 billion.