The transaction was effective December 22, 2000 and resulted in a one-time $0.01 per share loss on the sale to be recorded in the fourth quarter, 2000.
The sale of HPI is part of Equifax’s strategy to sustain Equifax’s focus on its core consumer credit and business information services in the UK. At the same time it enables HPI to continue to build on its position as a strong, independent force for the UK retail auto industry, said Lee A. Kennedy, Equifax president and chief operating officer.
HPI and IMVA have worked together for several years as alliance partners to counter odometer-tampering fraud. This sale is a natural extension of that relationship. The transaction ensures continuity of technology and service delivery for HPI customers.
