APPRISS, INC. ANNOUNCES DEFINITIVE AGREEMENT TO SELL APPRISS INSIGHTS, LLC TO EQUIFAX, INC FOR $1.825 BILLION
Risk and Criminal Justice Intelligence Provider to Enhance Workforce Solutions, Equifax’s Fastest Growing Business
Louisville, KY – August 10, 2021 – Appriss, Inc., a pioneer in data and analytics solutions that mitigate risks, improve health, and save lives, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and Insight Partners, announced today that it has entered into a definitive agreement to sell Appriss Insights, LLC, a wholly owned business unit, to Equifax, Inc. in an all cash transaction for $1.825 billion. Appriss Insights provides data and analytics solutions to government agencies and commercial enterprises to improve community and workplace safety, improve healthcare credentialing, enable more effective law enforcement investigations, and mitigate fraud and improper payments in government entitlement programs.
Appriss Insights’s differentiated capabilities are expected to further enhance Equifax’s fast growing and market-leading Workforce Solutions. The deal is subject to customary closing conditions.
“Appriss was founded over 25 years ago with a mission to leverage data and technology to protect crime victims and make communities safer. This purpose has fueled innovation in other important areas such as workplace risk and financial fraud, where we’ve continued to enhance safety and help ensure valuable tax dollars stay where they’re most needed,” said Krishnan Sastry, Appriss Inc.’s CEO. “Appriss Insights and Equifax share a common vision for how to drive better decisions using a combination of our data and insights. We are incredibly proud to have the talented Appriss Insights team join forces with Equifax and to realize a shared vision faster.”
Appriss Insights pioneered VINE®, the victim-safety solution that connects to county jails and state prisons to monitor the movement of offenders. VINE® uses custody status information to deliver over 25 million notifications annually to keep victims and survivors of crime safe. Appriss Insights has expanded its data capabilities to become a leading provider of risk and criminal justice intelligence solutions for government agencies and employers. Appriss Insights continues to expand its capabilities to strengthen pre-hire background screening and post-hire continuous monitoring, and to mitigate fraud in various government entitlement programs such as unemployment insurance.
“The sale of Appriss Insights is a validation of Appriss’s original mission of delivering critical, proprietary data and analytics to help customers make better decisions,” said James Pade, Partner and Managing Director at Clearlake. “With this divestiture, Appriss will continue to invest in its healthcare and retail platforms, and Clearlake looks forward to helping Appriss grow its leadership position across these key verticals.”
“The innovative Appriss team continues to leverage unique data networks, analytics, and technology to bring new and improved solutions to multiple markets,” said Deven Parekh, Appriss, Inc.’s Chairman of the Board and Managing Director at Insight Partners. “This has resulted in top and bottom-line growth for 26 consecutive years – every single year of the company’s existence. We’re excited to see what the Appriss Insights and Equifax teams will achieve together and look forward to Insight’s continued partnership with the broader Appriss business.”
Appriss, Inc.’s other business units will continue under the ownership of Clearlake and Insight Partners, focused on providing data and technology solutions to improve how healthcare is delivered, to mitigate fraud and risk, and to improve consumer experience at all touchpoints for omnichannel retailers.
Evercore acted as the sole financial advisor and Wilkie Farr & Gallagher LLP served as the legal advisor to Appriss, Inc.
About Appriss
Appriss, Inc., is a leading data and analytics company on a mission to put knowledge to work for good in the world. Founded in Louisville, KY in 1994, Appriss’s technology products and services help clients analyze trends, identify risks, and make better decisions that improve the health, safety and wellbeing of individuals and communities. Guided by their “Knowledge for Good” philosophy, Appriss serves businesses, governments, healthcare institutions and commercial enterprises in over 25 countries across 4 continents.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has approximately $39 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
Media Contacts
For Appriss:
Tara Leigh Goode
+1 859-473-4433
For Clearlake:
Jennifer Hurson
Lambert & Co.
+1 845-507-0571
[email protected]
For Insight Partners:
Nikki Parker
+1 571-353-4273
[email protected]
