Appriss, Inc. Closes Sale of Appriss Insights, LLC to Equifax in $1.825 Billion Deal
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Louisville, KY, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Appriss, Inc. (“Appriss”), a pioneer in data and analytics solutions that mitigate risks, improve health, and save lives, today announced that they have closed the sale of Appriss Insights, LLC (“Appriss Insights”), a wholly owned business unit, to Equifax, Inc. in an all-cash transaction for $1.825 billion. Appriss Inc. is backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and New York-based global private equity and venture capital firm Insight Partners.
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. First announced in August 2021, the sale of Appriss Insights is expected to further enhance Equifax’s fast growing and market-leading Workforce Solutions.
"The founding of Appriss was inspired by the tragic murder of a young woman, Mary Byron, 27 years ago,” said Krishnan Sastry, CEO of Appriss Inc. “The founders, Mike Davis and Yung Nguyen, believed then that timely data and technology could have saved Mary’s life. That inspired the creation of VINE® which set our north star back in 1995. That very mission of Knowledge For Good® inspires us today to bring innovative solutions that save lives and fight fraud in the healthcare and retail industries.”
As part of the completed transaction, more than 500 Appriss Insights associates will join the Equifax team to execute on the companies’ shared vision to drive better decisions using a combination of data and insights. Continued Sastry, “We are incredibly proud to have the talented Appriss Insights team join forces with Equifax, and we wish the new team the very best as they combine their capabilities to bring new solutions to market."
Appriss will continue under the ownership of Clearlake and Insight Partners and focus on providing data and technology solutions to improve payer-provider collaboration to better deliver whole-person care through its Bamboo Health subsidiary and deliver analytics solutions to improve consumer experience at all touchpoints for omnichannel retailers under its Appriss Retail subsidiary.
Evercore acted as the sole financial advisor and Wilkie Farr & Gallagher LLP served as the legal advisor to 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. Learn more at apprisscorp.com/.
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 over $42 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 http://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.
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