ChoicePoint Buys ePolicy

Identification and credential verification services provider ChoicePoint ( CPS) said Thursday that it acquired certain assets including the ePolicy Solutions RightRisk product line.

Terms of the transaction were not disclosed.

California-based ePolicy provides administration solutions for commercial insurance carriers.

The acquisition is not expected to have a material impact on ChoicePoint's financial results or earnings.

"The acquisition of ePolicy is a strong complement to our suite of solutions for the insurance market," ChoicePoint said. "In addition to strengthening our market reach, it will help further our ability to address the growing needs of customers seeking customizable, tools-based solutions and 'best in class' approaches. The ePolicy team brings experience and a strong reputation in the marketplace to our insurance services business."

The company said last Monday that it plans to divest its direct marketing, forensic DNA and shareholder services businesses.

The stock was down 21 cents, or 0.6%, to $36.33 Thursday.

This story was created through a joint venture between TheStreet.com and IRIS.

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