Equifax announced today that it has agreed to acquire ID protection innovator and Finovate alum, TrustedID.
The specific amount of the deal was not disclosed by Equifax. However reports indicate that the all-cash arrangement totaled more than $30 million.
TrustedID will become a part of Equifax’s Personal Solutions, which focuses on credit monitoring and identity protection. The company has raised $20 million in investment capital since it was founded in 2004. TrustedID is headquartered in Palo Alto, California, from which the company’s employees will continue to work, post-acquisition.
TrustedID was recently in the news for its new service designed to help protect seniors from identity theft. Announced last month, the program is run through AARP and is geared toward the over-50 population that is most vulnerable to ID theft. TrustedID’s product suite includes solutions ranging from ID and credit protection to data breach defense systems.
TrustedID demoed its technology as part of the FinovateSpring 2011 show in San Francisco. See the company’s presentation here.