TransUnion has received court approval to buy TLO for $154 million. The sale was announced in October. Boca Raton, Fla.-based TLO, a data company, filed for Chapter 11 bankruptcy protection in May.
Boca Raton, Fla — November 22, 2013 – TLO, LLC (“TLO” or the “Company”), a leading data solutions provider specializing in custom, scalable investigative and risk management tools for due diligence, threat assessment, identity authentication, fraud prevention, and debt recovery, today announced that it has obtained Court approval for the acquisition of TLO by TransUnion, a global leader in information and risk management, for $154 million. The Company expects to close the transaction no later than the end of the year.
Desiree Asher and Carly Asher Yoost, Co-Chief Executive Officers of TLO, said, “It has been our privilege to lead the TLO Tribe for the past eleven months. The successful conclusion of a competitive and robust bidding process is an enormous validation of the value of TLO. We are thrilled with the acquisition by TransUnion as we know it secures TLO as an aggressive competitor in the marketplace.”
The Company filed a voluntary Chapter 11 petition on May 9, 2013. Additional information about TLO is available on the Company’s website at http://www.tlo.com.
Furr and Cohen, P.A. of Boca Raton, Florida is serving as legal advisor to the Company. Farlie Turner & Co., LLC is serving as financial advisor to the Company.
TLO is a leading data solutions provider specializing in custom, scalable investigative and risk management tools for due diligence, threat assessment, identity authentication, fraud prevention, and debt recovery. Used daily by thousands of organizations in the public and private sector, TLO’s core product, TLOxp ®, is the most powerful technology for locating, researching, and finding the connections between individuals, businesses, and assets. TLO further supports law enforcement agencies in more than 40 countries around the globe by providing, at no charge, cutting-edge technology used to identify and locate child predators.
Additional information about TLO is available on the company’s website at http://www.tlo.com