Equifax Inc., the company known for its analysis of consumer creditworthiness, today closed a $124 million deal to acquire IXI Corp., thanks in part to legal help from Kilpatrick Stockton.
Kilpatrick mergers and acquisitions partner Gregory K. Cinnamon, who served as lead counsel on the deal, said he’s represented Equifax in various transactions over the past 15 years, including the company’s 2008 joint venture with Russian credit information company Global Payments Credit Services.
In the IXI deal, he said, “Intense focus was placed upon the transaction and meeting a tight time scale.”
Prior to the agreement, Equifax and IXI, a privately-held company based in McLean, Va., which collects and analyzes consumer wealth and asset data, had worked together for 18 months.
IXI sells its information to clients in the financial services and consumer marketing sectors. The company says it sources its information through more than 95 banks, brokerage firms and other financial entities, directly measuring data on more than $10 trillion in U.S. consumer assets and investments that represent more than 42 percent of all U.S. consumer-invested assets.
Cinnamon said six to eight other lawyers from three of his firm’s offices also worked on the deal, including Atlanta partners Lynn E. Fowler, who handled tax matters, and Jennifer S. Schumacher, who handled benefits and executive compensation issues.
Cooley Godward Kronish represented IXI; the company’s financial advisers were from Wells Fargo.