Equifax® (NYSE: EFX) announced today that it has signed a definitive agreement to acquire Efficient Hire, a provider of cloud recruiting, onboarding and HR management solutions. This acquisition will enable Equifax Workforce Solutions to bring employers more of the services and insights they need to help them manage amidst a rapidly changing hiring and employment landscape.
“The Efficient Hire acquisition demonstrates our commitment to reinvesting our 2021 outperformance in bolt-on acquisitions that further position Equifax for diversified growth,” said Mark W. Begor, CEO of Equifax. “Efficient Hire will enhance our robust suite of employer services, and bolster our largest and fastest-growing business: Workforce Solutions. As the only cloud-native company of our kind, we will leverage the Equifax Cloud™ to rapidly integrate Efficient Hire’s solutions into the Equifax portfolio, helping us to drive innovation and provide customers with unique access to more capabilities, product suites and services.”
Efficient Hire offers a portfolio of solutions that is specially tailored to meet the needs of hourly employers, with an emphasis on helping firms in the restaurant, staffing, building services, senior care and hospitality industries quickly and efficiently scale their workforces. Its offerings include HR management solutions for areas such as I-9/E-Verify, the Work Opportunity Tax Credit (WOTC) and the Affordable Care Act (ACA).
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“Now more than ever, employers are in a battle for talent,” said Joe Muchnick, Senior Vice President of Employer Services and Talent Solutions for Equifax Workforce Solutions. “The addition of Efficient Hire further demonstrates our commitment to helping employers attract and retain the talent they need to help grow their businesses.”
Based in Denver, Efficient Hire serves customers nationwide. Its leaders and employees will join the Equifax Workforce Solutions business once the transaction has closed.
“Over the past 13 years, Efficient Hire has helped hourly employers hire more than 6.6 million new employees, and provided the tools to help them create a consistent and more efficient hiring process,” said David Kenney, Founder and CEO of Efficient Hire. “Our team is invigorated by the opportunities that lie ahead, as we leverage Equifax’s renowned capabilities in analytics and technology for the benefit of our customers.”
The transaction is subject to customary closing conditions and is expected to close in February 2022. The acquisition is not anticipated to have a material impact on Equifax’s 2022 financial results.