Strategic acquisition creates worldwide chief, reworking digital identity and fraud prevention
GB Group p.C (AIM:GBG), the professionals in virtual area, identification and identification fraud software, has these days announced that it has reached settlement to accumulate Acuant, a main identity verification and KYC/AML compliance issuer, for a coins-unfastened, debt-loose enterprise value of $736 million. The acquisition of Acuant brings collectively two of the leaders inside the global virtual identification marketplace with a mixed sales of c.£265 million.
The acquisition creates a leader within the strategically important North American marketplace and accelerates the rollout of GBG’s identification and fraud answers globally. The combined product portfolio will offer the enterprise’s exceptional end-to-give up abilities and an enhanced era platform so as to support both businesses’ existing network of partners and customers as they manipulate billions of global transactions throughout multiple industry sectors.
Acuant has purposefully evolved its Trusted Identity Platform with a powerful orchestration layer and clean to configure adventure builder, making great-in-elegance generation accessible to all. This platform enables the seamless mixture of information, files, biometrics and analytics for consumption throughout the complete customer lifecycle: onboarding, step-up authentication, KYC/AML compliance, fraud and risk analysis, actual-time monitoring and identity re-use. These talents, available as factor answers or integrated services, are applicable throughout all purchaser or citizen going through markets and can be deployed globally, building upon GBG’s present presence in APAC and EMEA. The platform is scalable the world over, permitting GBG and Acuant clients to install solutions in a couple of geographies and accelerating GBG’s increase in APAC and Europe.
The global identification verification marketplace is projected to reach $15.Eight billion by 2025 and the fast-growing identity fraud market is projected to be well worth $9.6 billion through 20251. GBG’s acquisition of Acuant strengthens its presenting in each markets with an answer for any enterprise that needs to accept as true with an identity, whether pushed by way of handling compliance, lowering the price of fraud or improving consumer revel in on the point of purchase. GBG and Acuant share a not unusual imaginative and prescient to create a platform that allows believe in the virtual economic system, and this imaginative and prescient is underpinned by way of similar cultures and common values, tested over years of collaboration on present business initiatives. Acuant brings a team of over 2 hundred particularly skilled digital IDV professionals and over 1,000 clients, with almost 1/2 of sales powered with the aid of Acuant’s strong channel accomplice community.
Chris Clark, Chief Executive Officer at GBG, said: “We are delighted to announce the acquisition of Acuant. It is a business that we’ve got labored with and favourite for many years. The aggregate of our agencies is a complementary and effective one. Together we create a worldwide leader in facts, report and biometric identity verification services and give a boost to our mutual functionality to capitalise on the quick-growing identification fraud marketplace. The US is the largest and most strategic market for region, identification and fraud services.
As importantly, it also strengthens the breadth of our era portfolio which we can use to support our present day clients in new approaches in growth geographies inclusive of APAC and Europe wherein we have already got a strong footprint. The crew at Acuant brings new skills and expertise to GBG, as well as an aligned culture and shared imaginative and prescient to enable trust in the virtual financial system. We are enthusiastic about the potential of the combined agencies and the acceleration this gives to our strategic dreams.”
Yossi Zekri, Chief Executive Officer at Acuant, said: “This is an thrilling day for Acuant. We are very proud of the entirety that Acuant has achieved up to now – constructing a international-class generation portfolio and a sturdy marketplace position across a couple of sectors. There remains tremendous possibility in advance and becoming a member of the GBG own family is the high-quality manner for us to capitalise on those opportunities. Our patron, technology and geographical blend are complementary and culturally we are aligned in our project, vision, and the way we invest in our people and appearance after our customers. We are very a lot searching ahead to operating together within the years in advance.”
About GBG
GBG are the professionals in virtual place, identification and identity fraud software program, helping businesses throughout the globe put off friction from their digital reviews. GBG expand and supply digital identity, deal with verification, fraud prevention and compliance software to over 20,000 clients globally. Through the aggregate of the contemporary technology, the most accurate facts and unrivalled knowledge, GBG helps companies starting from start-u.S.To the largest patron and era manufacturers inside the international deliver seamless stories, allowing their clients to transact online with more self belief. Headquartered inside the UK with over 1,000 group members throughout 15 nations.
About Acuant
Acuant’s Trusted Identity Platform empowers groups and governments to transact with receive as proper with in our digital global. Acuant establishes don’t forget in seconds anywhere clients, governments and groups want to transact, stopping fraud and rapid-monitoring relied on identities. The ability to construct, confirm, screen and securely proportion virtual identities with Acuant’s inclusive generation is to be had to the complete worldwide population. AI-powered identity verification and regulatory compliance (AML/KYC) answers supply incredible results and operational efficiency with omni-channel deployment.
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