This strategic acquisition creates a global leader, transforming digital identity and preventing fraud. providing differentiated solutions for all points of identity verification and customer journey for identity fraud. technology throughout the customer lifecycle and bringing together the industry’s most qualified experts in identity verification and fraud prevention November 19.
2021 03:26 EST LONDON (BUSINESS WIRE) GB Group plc (AIM: GBG), experts in anti-fraud digital localization, identity and identity software, today announced that it has entered into an agreement to acquire Acuant, a leading provider of KYC / AML identity verification and compliance , for a cashless and debt-free business value of $ 736 million. The Acuant acquisition brings together two of the leaders in the global digital identity market with combined revenue of around £ 265million.A long-time partner, Acuant offers a range of products that naturally complement IDology’s existing US-based GBG services. The acquisition creates a strategically important North American market leader and accelerates the deployment of GBG’s identity and fraud solutions globally.
The combined product portfolio will provide the industry’s best end-to-end capabilities and an advanced technology platform that will support both companies’ existing network of partners and customers as they handle billions of global transactions across multiple industries.
Acuant has specially developed its Trusted Identity Platform with a powerful orchestration layer and an easy-to-configure trip creation tool that makes cutting-edge technology accessible to everyone.
This platform enables the perfect combination of data, documents, biometric data and analytics for consumption throughout the customer lifecycle: integration, strong authentication, KYC / AML compliance, fraud and risk analysis , real-time monitoring and reuse of identity. These capabilities, available as point solutions or integrated services, are applicable to all consumer or citizen markets and can be implemented globally, building on GBG’s existing presence in APAC. and EMEA.
The platform is scalable internationally, enabling GBG and Acuant customers to deploy solutions in multiple geographies and accelerate GBG’s growth in APAC and Europe. The global identity verification market is expected to reach $ 15.8 billion by 2025 and the rapidly growing identity fraud market is expected to reach $ 9.6 billion by 20251.The acquisition of Acuant by GBG strengthens its offering in both markets with a solution for any industry that needs to trust an identity, whether motivated by compliance management, reducing the cost of fraud or improving the customer experience at the time of purchase. GBG and Acuant share a common vision to create a platform that enables trust in the digital economy, and this vision is underpinned by similar cultures and common values, proven by years of collaboration on existing business ventures. brings a team of more than 200 professionals.
Highly experienced digital IDVs and over 1,000 customers, with almost half of revenues fueled by Acuant’s strong network of channel partners. This transaction is expected to complete all necessary legal and regulatory steps by the end of November 2021. Chris Clark, CEO of GBG, said: “We are delighted to announce the acquisition of Acuant.
It’s a company we work with and admire. The combination of our two companies is complementary and powerful. Together, we are creating a global leader in identity verification services for data, documents and biometrics and strengthening our mutual ability to capitalize on the rapidly growing identity fraud market. States is the largest and most strategic market for location, identity and fraud services. The combination of GBG and Acuant is a step forward in this market, increasing scale, expanding our customer base and introducing us to exciting new industries. .Equally important, it also strengthens the breadth of our portfolio of technologies that we can use to support our current customers in new ways in growing geographies like APAC and Europe, where we already have a strong presence. The Acuant team brings new skills and talents to GBG, along with an aligned culture and shared vision to enable confidence in the digital economy. We are excited about the potential of the combined businesses and the acceleration it gives to our strategic goals. by Ac