Equifax has agreed to acquire Appriss Insights, a portfolio company of Clearlake Capital Group, L.P., and Insight Partners, that provides data used in public and workplace safety, law enforcement, fraud detection and prevention, and health care credentialing. The deal is valued at about $1.8 billion.

Appriss Insights’ Artificial Intelligence (A.I.)-driven solutions complement Equifax verification products by providing real-time notifications, context-sensitive risk assessments, and actionable insights.

“Our strong performance and balance sheet allow Equifax to reinvest our cash flow in this accretive and strategic acquisition that will strengthen our largest, fastest-growing business unit — Workforce Solutions — for additional growth by building on our differentiated verifications data and expertise while further diversifying Equifax,” said Equifax CEO Mark W. Begor.

[According to the companies’ press release, the acquisition will expand Equifax relationships with employers, background screeners, and state and federal government agencies, extending the company’s reach into the U.S. talent acquisition market and the U.S. government social services delivery market — areas seeing increasing demand for criminal background checks and continuous monitoring services.]

Appriss Insights is expected to generate about $150 million of revenue in fiscal year 2021, up 30% year-over-year. The transaction is expected to be accretive to Equifax’s adjusted earnings per share in fiscal year 2022.

Equifax would receive a tax benefit with a net present value of $360 million at the time of purchase.

Appriss Health and Appriss Retail will remain part of Appriss Inc. and are not a part of this transaction.

Equifax held cash and cash equivalents of $458.1 million as of June 30, 2021.

The transaction is subject to customary closing conditions and regulatory review and is expected to close in the second half of 2021.

This story originally appeared on Benzinga. © 2021 Benzinga.com.

Benzinga does not provide investment advice. All rights reserved.

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