DENVER, Aug. 10, 2017 /CNW/ -- ID Watchdog, Inc. (TSX VENTURE: IDW) (OTC: IDWAF) ("ID Watchdog" or the "Company"), provider of consumer-facing identity theft protection and resolution services, announced today that its shareholders have approved the acquisition of the Company by Equifax Inc. ("Equifax" NYSE: EFX) pursuant to a merger with a wholly-owned subsidiary of Equifax (the "Acquisition") for consideration of USD $63,335,000 in cash, as was previously announced on June 16, 2017. The Acquisition was approved by 96.2% of the votes cast at ID Watchdog's extraordinary meeting of shareholders held earlier today. Under the terms of the Acquisition, ID Watchdog shareholders will receive cash consideration of U.S. $0.40 per Ordinary Share (the "Per Share Consideration").
The Acquisition closed today (the "Effective Date") and the Company's Ordinary Shares will be delisted from the TSX Venture Exchange as soon as practicable following the Effective Date. Trading in the Company's shares will be halted after the closing of trading today.
A payments administrator (the "Payments Administrator") has been hired by the Company to facilitate payment of the Per Share Consideration. Shareholders or their custodians should expect to receive a letter from the Payments Administrator shortly following the Effective Date with instructions as to how to access an on-line portal to complete a letter of transmittal in order to receive payment of the Per Share Consideration.
ID Watchdog's financial advisor is Headwaters MB. ID Watchdog's legal advisors are Polsinelli PC, Fogler, Rubinoff LLP and Walkers. Equifax's legal advisor is King & Spalding LLP.
About ID Watchdog: ID Watchdog provides award-winning identity theft protection and resolution services to the employee benefits marketplace and also offers breach resolution, white label, wholesale, and embedded programs. Founded in 2005 and headquartered in Denver, Colorado, ID Watchdog leverages proprietary technology that searches billions of data points to detect changes in the personal identity profiles of each subscriber and provides immediate resolution services.
ID Watchdog holds six industry awards for its identity protection software and service. The Company has been recognized for its leadership in identity theft protection, detection, and resolution as well as for its innovative technology, premier customer service, and personalized communication.
About Equifax: Equifax is a global information solutions company that uses trusted unique data, innovative analytics, technology and industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions. The company organizes, assimilates and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and its database includes employee data contributed from more than 7,100 employers.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,900 employees worldwide.
Some noteworthy achievements for the company include: Named to the Top 100 American Banker FinTech Forward list (2015-2016); named a Top Technology Provider on the FinTech 100 list (2004-2016); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2017); named one of Fortune's World's Most Admired Companies (2011-2015); named one of Forbes' World's 100 Most Innovative Companies (2015-2016). For more information, visit www.equifax.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE ID Watchdog, Inc.