TransUnion announced Tuesday that it completed the acquisition of Boca Raton, Fla.-based TLO, a risk information and analytics company.
The U.S. Bankruptcy Court for the Southern District of Florida in November named TransUnion's offer of $154 million in cash as the winning bid in the court-managed auction of TLO. The transaction will not materially affect TransUnion's financial results for 2013. In October, TransUnion made an opening offer of $90 million in cash and $15 million in stock to buy the bankrupt data firm.
"This acquisition supports our primary mission to help organizations optimize their risk-based decisions and enable consumers to understand and manage their personal information," said Jim Peck, TransUnion's president and CEO. "We are excited about the possibilities the combination of our two companies will bring to our existing customers as well as new markets that need to leverage data and analytics to effectively manage risk."
TransUnions offer calls for TLO to keep its rights to a $40 million life insurance policy on Hank Asher, the company founder who died this year.
TLO is a data services firm that specializes in custom investigative and risk management tools for due diligence, threat assessment, identity verification, fraud prevention and debt recovery.