TransUnion announced that the U.S. Bankruptcy Court for the Southern District of Florida has approved its bid to acquire TLO, a leading company in the risk information and analytics industry based in Boca Raton, Fla. Today’s decision marks the end of a court-managed sale process that included a motion filed by TransUnion in October to become the so-called stalking horse bidder for TLO.
“TransUnion and TLO will be a powerful combination. TLO’s capabilities are highly complementary to our own,” said Jim Peck, TransUnion’s president and CEO. “Coupled with TransUnion’s sophisticated technology, high powered analytics and robust data, we are well positioned to help a variety of organizations and businesses make better decisions, faster.”
Under the terms of the offer selected today by the court as the winning bid, TransUnion will purchase TLO for $154 million in cash. The transaction, which is expected to close by the end of 2013, will not materially affect TransUnion’s financial results for 2013.
BIIA covered the story in October when TransUnion placed an initial bid for US$105 million to save TLO from bankruptcy. To read the full story click on this link