ChoicePoint(R) Acquires iMapData, Adds Unique Data Visualization Capabilities for Customers
ALPHARETTA, Ga., March 12, 2004 -- ChoicePoint (NYSE: CPS), the leading provider of identification and credential verification services, today announced its acquisition of iMapData Inc., an information and analytics company with powerful data visualization capabilities, based in Tysons Corner, Va.
Through collection, display and analysis of public, proprietary and other client specific data, iMapData creates multicolor maps and reports that provide an instant visual representation of often complex information. The data visualization is a critical component of how clients make more informed business and strategic decisions.
"The merging of ChoicePoint and iMapData technologies and data creates powerful tools that will generate dynamic results for our business, government and law enforcement clients," said Derek V. Smith, ChoicePoint chairman and chief executive officer. "The revolutionary iMapData Web-based platform creates maps that illustrate data points, allowing clients to discern patterns based on business, economic, demographic, geographic and other relevant information."
"For 22 years, iMapData has provided critical information to the business and government sectors," said William Lilley III, iMapData chairman and chief executive officer. "Together, the combination of ChoicePoint and iMapData will greatly strengthen our clients' ability to view the strategic landscape by merging specific yet diverse data into a client-tailored visualized format."
The acquisition of iMapData will allow ChoicePoint to broaden its product offerings to existing government customers as well as expand the iMapData technology into broader business and commercial applications.
For the full year, ChoicePoint now expects core revenue growth to be in the 10 to 14 percent range, up from 8 to 12 percent, due to incremental contributions from iMapData. Additionally, ChoicePoint expects this acquisition to be $0.02 accretive to earnings in 2004, with a $0.01 benefit expected in each of the last two quarters of the year. ChoicePoint continues to estimate year-over-year operating margin expansion of up to 100 basis points and strong free cash flow in the $170-180 million range.
ChoicePoint will host a live Web cast of a conference call to discuss this acquisition at 8:30 a.m. (EST) on Monday, March 15, 2004. The Web cast can be accessed at http://www.choicepoint.com .
ChoicePoint (NYSE: CPS), based in Alpharetta, Ga., is the leading provider of identification and credential verification services for making smarter decisions in a world challenged by increased risks. Serving the needs of business, government, non-profit organizations and individuals, ChoicePoint works to create a safer and more secure society through the responsible use of information while ensuring the protection of personal privacy. For more information, visit the company's Web site at http://www.choicepoint.com .
ChoicePoint is a registered trademark of ChoicePoint Asset Company.
Web Site: http://www.choicepoint.com