ChoicePoint Acquires Magnify, Expanding Fraud Detection and Analytics Services

ALPHARETTA, GA – ChoicePoint® yesterday announced its acquisition of Magnify, Inc., a provider of fraud detection and analytics solutions to the insurance and financial services industries. Terms of the acquisition were not disclosed.

Magnify’s advanced technology and modeling expertise helps customers identify suspicious activity, route information and determine which actions maximize financial return. Magnify’s FraudFocus™ solution provides ongoing status review using analytics to ensure the highest level of efficiency within customer organizations.

“As we bolster our leadership position in the industry, ChoicePoint continues to seek out proven businesses and models that complement our core business and services,” said Jeffrey Glazer, vice president and general manager of ChoicePoint’s Insurance Services group. “The addition of Magnify augments ChoicePoint’s position as the premier provider of data, software and analytics that our customers need to make critical decisions. We are excited to have Magnify as part of our organization.”

“Magnify is pleased to join the ChoicePoint team and we look forward to working together in helping insurance carriers and financial service institutions make significant inroads in fraud losses. We believe that FraudFocus, combined with ChoicePoint’s industry leading data and solutions, represents the next generation of fraud fighting in the insurance and financial services industries,” said Bob Hoyler, Magnify’s president and chief executive officer.

The transaction is not expected to have a material impact on ChoicePoint’s financial results. The company does not expect the acquisition to be dilutive to earnings.