Veda Group has entered into a binding agreement with US credit reporting and data analytics company Equifax Inc for Equifax to acquire Veda by way of a scheme of arrangement.The Veda board issued a statement yesterday saying it supported the scheme and recommended that shareholders vote in favour.Equifax will pay A$2.825 cash per share. The price represents a 41.6 per cent premium over the Veda closing price on September 17 - the last trading day before the announcement of Equifax's original expression of interest.The offer at that time was for $2.70 a share.The offer price is 12.1 per cent higher than Veda's highest closing price since listing in December 2013. The introduction of comprehensive credit reporting in Australia, following changes to the Privacy Act in 2013, has attracted a number of overseas financial data analytics players to the local market. UK company Experian launched a consumer credit bureau in Australia in 2013 (it had been in the market offering data analytics and marketing services for 15 years) and US company FICO has raised its profile here over the past couple of years. This year Archer Capital took over the Australian and New Zealand business of Dun & Bradstreet.Veda chair Helen Nugent said in a statement: "Equifax has a global capability and deep skills that will benefit Veda's customers and provide opportunities for our staff."Veda shareholders will receive a scheme booklet in mid-December containing an independent expert's report on whether the scheme of arrangement is fair and reasonable.