According to CSC and Equifax, the division is the largest independent consumer credit reporting agency in the United States, and has had a business relationship with Equifax for more than two decades. It covers 15 states in the Midwest and central U.S., and represents around 20% of the country's population. CSC said the unit is expected to post $230 million in revenue, $100 million in operating income, and $0.40 in EPS for 2012.
CSC said it would net around $750 million to $800 million from the sale after taxes, and use the proceeds mostly for share repurchases and pension plan contributions. Equifax expects the acquisition will bring in net operating revenue of $115 million to $125 million, and EBITDA of $105 million to $110 million.
The companies expect the sale to close by the end of this month, pending regulatory reviews.