Equifax Inc. announced Wednesday it has reached a definitive agreement to acquire the data analytics company IXI Corp. of McLean, Va., for $124 million in cash.
The Atlanta credit bureau did not specify a closing date, saying only that it is expected in the near future.
IXI's data, sourced through more than 95 banks, brokerage firms and other financial organizations, is the most comprehensive database of invested and deposited consumer wealth in the country, Equifax said. IXI directly measures data on more than $10 trillion of U.S. consumer assets and investments, representing more than 42% of all U.S. consumer invested assets.
"The caliber and breadth of intelligence and data we'll offer will significantly improve the opportunities for our clients to acquire, expand and retain customer relationships," said Dann Adams, the president of the Equifax consumer information solutions unit, in the company's press release.