Mark Begor

Chief Executive Officer at Equifax

[Mark Begor @markbegor]

Energized to announce that @Equifax has signed a definitive agreement to acquire @CDC_Mex - the fastest-growing credit bureau in Mexico and the only Mexican credit bureau currently operating both consumer and commercial credit bureau services - for an enterprise value of $750M. An exciting new global chapter for both EFX and Círculo customers!

Mexico is the 2nd largest economy in LATAM and one of the fastest-growing credit markets globally. Consumer credit growth in Mexico is expected to be driven by expanded access to credit, financial inclusion and digitization, and Círculo has been a first-mover in the market with the market’s broadest data set and innovative solutions. Their unique market position has delivered very strong financial results, with very strong LTM revenue growth of 31% led by their unique alternative data including gig-economy transactions and utility and telco payment history delivering very strong 46% Adjusted EBITDA margins. Circulo’s strong top and bottom line are highly accretive to our 7-10% LT Growth Framework and we expect the acquisition to be accretive to EFX Adjusted EPS in year 1. This alternative data can responsibly expand access to credit and support a more inclusive economy, critical in a country where 25% of the population is without access to formal financial products.

This acquisition is aligned with our strategy to reinvest our strong free cash flow in accretive and strategic acquisitions to strengthen EFX and deliver shareholder returns. Círculo will be our 17th bolt-on acquisition in 6 years, totaling ~$5B in investments. We have a proven track record of integrating these acquired businesses, like our recent acquisition of Boa Vista Serviços in Brazil.

We expect the Círculo de Crédito acquisition to be completed in 4Q 2026, subject to customary closing conditions and regulatory review and approval, and look forward to welcoming Círculo CEO Juan Manuel Ruiz Palmieri and the company’s 280 employees to the EFX team! #NewEFX

LINK: https://t.co/Puzv8mX8YP

[Mark Begor @markbegor]

We applaud Federal Housing Finance Agency Director @pulte, and U.S. Department of Housing and Urban Development Secretary @SecretaryTurner for their landmark decision to permit the use of VantageScore 4.0 and FICO 10T as eligible credit scoring models for FHA-insured #mortgage underwriting, and for Fannie Mae and Freddie Mac to immediately accept VantageScore-scored loans from approved lenders. This announcement promotes credit score competition and helps to deliver a potential $1 Billion in industry and consumer cost savings.

@Equifax is deeply committed to helping more people achieve the #AmericanDream of #homeownership. We believe that more data drives better decisions, and VantageScore 4.0 gives lenders a highly predictive view of a consumer’s financial profile that leverages trended and alternative data to help identify qualified borrowers with "thin" credit files, often including new borrowers and younger Americans, while maintaining the highest standards of safety and soundness. With today’s announcement Director Pulte and Secretary Turner have taken vital leadership in modernizing the mortgage industry, reducing loan acquisition costs for consumers, and opening up new homeownership opportunities for millions of Americans.

https://t.co/41aWfk8dVK