Acxiom(R) Expands Fraud Prevention, Risk Mitigation Capabilities with Acquisition of InsightAmerica
August 10 2005 - 3:00PM
Business Wire
Acxiom(R) Corporation (NASDAQ:ACXM) today announced it had expanded
and enhanced its fraud prevention and risk mitigation services with
the acquisition of InsightAmerica based in Broomfield, Colo. The
acquisition represents Acxiom's latest strategic initiative to
provide businesses, law enforcement, and the government with a
comprehensive set of custom data-driven solutions, analytic tools
and background screening services to help their fast-growing need
to mitigate risks, prevent identity theft and limit fraud. Since
its inception in 1994, InsightAmerica has earned a reputation for
innovation, quality and service in helping law enforcement,
government and commercial investigative agencies, banking and
financial institutions, debt recovery groups, employment screening
organizations and others whose success depends on advanced risk
mitigation or protection services. "More than 10 years ago, Acxiom
began building its capabilities to help insurance companies,
banking and financial institutions and other organizations improve
their identity verification capabilities to reduce fraud and make
better business decisions," said Acxiom Company Leader Charles D.
Morgan. The marketplace for such services has grown tremendously,
Morgan said, as companies and organizations realized their success
and reputation often depended on their ability to confirm the
identity and background of an individual, to quickly analyze
information to make risk assessments, and to comply with new laws
such as the USA PATRIOT Act. In 2002, Acxiom's strategic direction
continued with the acquisition of what is now Acxiom Information
Security Services, a premier employment background-screening unit
based near Cleveland, in 2004 with the announcement of a joint
fraud-management solution with TransUnion, and with Acxiom's
introduction of its own proprietary anti-fraud solutions. "With the
acquisition of InsightAmerica, Acxiom has reached another milestone
in advancing our extensive base of solutions in support of the
growing fraud prevention and risk mitigation markets," Morgan said.
Jeff Stalnaker, who leads Acxiom's Financial Services and
Government Organization, added, "We are excited about what
InsightAmerica brings to Acxiom in the way of advanced solutions
software, innovative product development, and a commitment to
excellence for enabling risk mitigation decisions while preserving
individual privacy." "We are very pleased with the opportunity to
become part of the Acxiom family, particularly in a time when the
constructive use of information for risk mitigation can immensely
benefit business, government and our society," said Ron Fournet,
Chief Executive Officer of InsightAmerica. "Acxiom's reputation for
providing the highest quality service, combined with its
grid-enabled Customer Information Infrastructure and
InsightAmerica's advanced decisioning software and databases, will
provide a competitive advantage for our clients and prospects."
InsightAmerica, a privately held company that employs approximately
100 associates, serves thousands of clients nationwide. Terms of
the deal were not released. About Acxiom Corporation Acxiom
Corporation (NASDAQ:ACXM) integrates data, services and technology
to create and deliver customer and information management solutions
for many of the largest, most respected companies in the world. The
core components of Acxiom's innovative solutions are Customer Data
Integration (CDI) technology, data, database services, IT
outsourcing, consulting and analytics, and privacy leadership.
Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas,
with locations throughout the United States and Europe, and in
Australia and China. For more information, visit www.acxiom.com.
Acxiom is a registered trademark of Acxiom Corporation. About
InsightAmerica InsightAmerica has become a leader in risk
mitigation information and analytics by offering analytically
enhanced data in an easy-to-use form. InsightAmerica provides
secure, reliable access to hundreds of national and state-specific
databases, including identity data, property, addresses, phone
numbers, motor vehicle and criminal records, in both online and
batch mode. In its first decade, InsightAmerica has won over
thousands of customers in government, law enforcement, fraud
prevention, consumer lending, receivables management and employment
screening by listening to customers, producing innovative solutions
and focusing on service. The company is privately held and
headquartered near Denver, Colorado.
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