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SOFTWARE (NON-INTERNET/MOBILE) | Retail & Inventory Software

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About Appriss Retail

Appriss Retail provides artificial intelligence-based solutions to help retailers protect margin, unlock sales, and cut shrink. The company’s Software-as-a-Service (SaaS) platform generates advanced analytical insights and real-time decisions that drive action throughout the organization. It provides business intelligence to operations, finance, marketing, and loss prevention. The company serves a global base of leading specialty, apparel, department store, hard goods, big box, grocery, pharmacy, and hospitality businesses in more than 150,000 locations in 45 countries across six continents. It is based in Irvine, California.

Appriss Retail Headquarter Location

6430 Oak Canyon

Irvine, California, 92618,

United States

Latest Appriss Retail News

Equifax to acquire Appriss Insights

Aug 12, 2021

External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Equifax to acquire Appriss Insights 2 hours ago Source: Equifax Equifax (NYSE: EFX) a global data, analytics and technology company has signed a definitive agreement to acquire Appriss Insights, a trusted and comprehensive source of risk and criminal justice intelligence, for $1.825 billion. In conjunction with the acquisition, Equifax will receive a tax benefit with a net present value at time of purchase of approximately $360 million. Appriss Insights, a portfolio company of Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and Insight Partners, provides data used in public and workplace safety, law enforcement, fraud detection and prevention, and healthcare credentialing. This acquisition will expand the breadth of differentiated data sources "Only Equifax" can provide, expanding the company's market-leading and fast growing Workforce Solutions verification capabilities, enhancing identity and fraud prevention offerings, advancing the strategy for a comprehensive Workforce Solutions data hub, and helping public and private organizations tap into timely, decision-critical data that helps employers reduce workforce risk and communities improve delivery of government entitlement programs. Appriss Insights is expected to generate approximately $150 million of revenue in 2021, up 30% over last year, and the transaction is expected to be strongly accretive to Equifax Adjusted EPS in 2022. An investor call and webcast on the agreement will be held on August 10, 2021 at 8:30 a.m. Eastern Time (ET). "The acquisition of Appriss Insights' industry-leading data platforms will further position Equifax as the resource of choice for public and private sector decision intelligence," said Mark W. Begor, CEO of Equifax. "Our strong performance and balance sheet allow Equifax to reinvest our cash flow in this accretive and strategic acquisition that will strengthen our largest, fastest-growing business unit - Workforce Solutions - for additional growth by building on our differentiated verifications data and expertise while further diversifying Equifax. We are extending the scope of our verification capabilities beyond income and employment with Appriss Insights' unique data assets which feature industry-leading automation, coverage and accuracy." Appriss Insights will expand Equifax relationships with employers, background screeners, and state and federal government agencies, extending Equifax reach into the $5 billion U.S. talent acquisition market and $2 billion U.S. government social services delivery market - areas seeing increasing demand for criminal background checks and continuous monitoring services. Appriss Insights was founded in 1994 with the creation of the VINE® network, a proprietary victim notification network that empowers victims with timely and reliable information regarding incarcerated persons. VINE uses Appriss' robust incarceration data network to deliver more than 25 million notifications every year and is utilized by 47 states and the territory of Guam to protect crime victims. Appriss Insights maintains the nation's most comprehensive and up-to-date incarceration data network with more than 170 million historical booking records accounting for over 90 percent of near real-time incarcerations in the United States. The company also has built a proprietary national criminal justice database, NCIS™, the industry's most extensive and flexible national criminal file. In addition to helping keep crime victims safe, these differentiated data assets are used in background checks within the hiring process to help identify and mitigate people-based risk. They also are used by law enforcement and government agencies to support active investigations and aid in the efficient delivery of government entitlement programs, helping to get much-needed benefits to those who are eligible while mitigating fraud and reducing waste. "Deeper data insights drive better decisions, whether you are an employer, background screener, healthcare provider, or social service agency," said Rudy Ploder, president of Equifax Workforce Solutions. "Together with Appriss Insights and its employees, Equifax Workforce Solutions will accelerate the development of new services leveraging our market leading The Work Number® database of income and employment information alongside unique data assets from Appriss Insights. With this acquisition, we are advancing our plan to build out a comprehensive data hub for verifications and monitoring, helping fuel better informed decisions for our public and private sector customers." "More than 20 federal agencies as well as state agencies in all 50 states trust Appriss Insights' cloud-based services, as do thousands of employers and background screeners," said Brian Matthews, president of Appriss Insights. "The combination of Appriss Insights and Equifax presents exciting opportunities to grow these partner relationships. We are energized to join forces with Equifax to help more individuals, agencies and organizations expand their verification and monitoring services with continuous, real-time access to reliable data." Appriss Insights' Artificial Intelligence (AI)-driven solutions complement Equifax verification products by providing real-time notifications, context-sensitive risk assessments, and actionable insights. Both Equifax and Appriss Insights leverage cloud-native infrastructures that drive faster delivery of solutions to customers and enable them to more quickly realize the benefits of new services and technologies. Additional Appriss Insights offerings that will enter Equifax into new markets and expand the company's service and support for government and commercial organizations include: The National Precursor Log Exchange (NPLEx), a real-time electronic logging and compliance system that tracks sales of over-the-counter (OTC) cold and allergy medications containing pseudoephedrine (PSE), precursors to the illegal drug, methamphetamine. The ProviderSafe™ set of database solutions and services designed to streamline healthcare credentialing and compliance with faster, more comprehensive screening services for the healthcare industry. Appriss Insights will continue to be led by Brian Matthews and will be based in Louisville, Kentucky. Its employees will join the Equifax Workforce Solutions business. Appriss Health and Appriss Retail will remain part of Appriss Inc. and are not a part of this transaction. The transaction is subject to customary closing conditions and regulatory review and is expected to close in the second half of 2021. J.P. Morgan acted as the sole financial advisor and King & Spalding LLP served as the legal advisor to Equifax. Related Companies

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