Alpharetta, Ga.-based ChoicePoint has announced the acquisition of ELIOS Inc. a property and casualty loss payee notification company. ELIOS notifies vehicle finance companies and mortgage holders of policy coverage and lapses in coverage for its insurance clients. Terms of the acquisition were not disclosed. 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.
ChoicePoint uses Current Carrier, a nationwide contributory policy database to develop unique and valuable policy monitoring and reporting services, including PolicyWatch and ALIRtS. The ELIOS acquisition further extends ChoicePoint’s offerings in this area.
ELIOS customers can now take advantage of all of our insurance verification and monitoring services offered, while all ChoicePoint insurance customers will be afforded an opportunity to take advantage of ELIOS advanced systems and services,” Richard Collier, ChoicePoint vice president and general manager of property and casualty services said.
Topics Mergers & Acquisitions
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