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- Mixture helps GBG’s function to construct belief in a digital world, delivering differentiated options for all factors of the id verification and id fraud buyer journey
- Acquisition allows GBG to additional increase into the US – the world’s largest and most strategically essential marketplace for location, id and fraud providers
- Mixture accelerates GBG’s knowledge, product and expertise ambitions, delivering world-class expertise throughout the shopper lifecycle and bringing collectively the trade’s most expert specialists in id verification and fraud prevention
NOVEMBER 18, 2021, LONDON: GB Group plc (AIM: GBG), the specialists in digital location, id and id fraud software program, has right this moment introduced that it has reached settlement to amass Acuant, a number one id verification and KYC/AML compliance supplier, for a cash-free, debt-free enterprise worth of $736 million. The acquisition of Acuant brings collectively two of the leaders within the world digital id market with a mixed income of c.£265 million.
A protracted-time associate, Acuant has a product suite that may be a pure complement to GBG’s present US-based providers from IDology. The acquisition creates a pacesetter within the strategically essential North American market and accelerates the rollout of GBG’s id and fraud options globally. The mixed product portfolio will present the trade’s finest end-to-end capabilities and an enhanced expertise platform that may help each firms’ present community of companions and prospects as they handle billions of worldwide transactions throughout a number of trade sectors.
Acuant has purposefully developed its Trusted Identification Platform with a strong orchestration layer and straightforward to configure journey builder, making best-in-class expertise accessible to all. This platform allows the seamless mixture of knowledge, paperwork, biometrics and analytics for consumption throughout your entire buyer lifecycle: onboarding, step-up authentication, KYC/AML compliance, fraud and danger evaluation, real-time monitoring and id re-use. These capabilities, out there as level options or built-in providers, are relevant throughout all shopper or citizen dealing with markets and may be deployed globally, constructing upon GBG’s present presence in APAC and EMEA.
The platform is scalable internationally, permitting GBG and Acuant prospects to deploy options in a number of geographies and accelerating GBG’s development in APAC and Europe.
The worldwide id verification market is projected to achieve $15.8 billion by 2025 and the fast-growing id fraud market is projected to be value $9.6 billion by 2025[i]. GBG’s acquisition of Acuant strengthens its providing in each markets with an answer for any trade that should belief an id, whether or not pushed by managing compliance, lowering the price of fraud or enhancing buyer expertise on the level of buy.
GBG and Acuant share a typical imaginative and prescient to create a platform that permits belief within the digital financial system, and this imaginative and prescient is underpinned by comparable cultures and customary values, confirmed over years of collaboration on present business initiatives. Acuant brings a staff of over 200 extremely skilled digital IDV professionals and over 1,000 prospects, with almost half of revenues powered by Acuant’s robust channel associate community.
This transaction is anticipated to finish all crucial authorized and regulatory steps by finish November 2021.
Chris Clark, Chief Govt Officer at GBG, mentioned: “We’re delighted to announce the acquisition of Acuant. It’s a enterprise that we’ve labored with and admired for a few years. The mix of our two companies is a complementary and highly effective one. Collectively we create a world chief in knowledge, doc and biometric id verification providers and strengthen our mutual functionality to capitalise on the fast-growing id fraud market.
The US is the most important and most strategic marketplace for location, id and fraud providers. The mix of GBG and Acuant offers a step-change on this market, growing scale, rising our buyer base and introducing us to new and thrilling sectors. As importantly, it additionally strengthens the breadth of our expertise portfolio which we will use to help our present prospects in new methods in development geographies resembling APAC and Europe the place we have already got a robust footprint.
The staff at Acuant brings new expertise and expertise to GBG, in addition to an aligned tradition and shared imaginative and prescient to allow belief within the digital financial system. We’re excited in regards to the potential of the mixed companies and the acceleration this offers to our strategic objectives.
Yossi Zekri, Chief Govt Officer at Acuant, mentioned: “That is an thrilling day for Acuant. We’re very pleased with every thing that Acuant has achieved up to now – constructing a world-class expertise portfolio and a robust market place throughout a number of sectors. There’s nonetheless vital alternative forward and becoming a member of the GBG household is the easiest way for us to capitalise on these alternatives. Our buyer, expertise and geographical combine are complementary and culturally we’re aligned in our mission, imaginative and prescient, and the way we spend money on our individuals and take care of our prospects. We’re very a lot trying ahead to working collectively within the years forward.”
About GBG
GBG are the specialists in digital location, id and id fraud software program, serving to organisations throughout the globe get rid of friction from their digital experiences. GBG develop and ship digital id, deal with verification, fraud prevention and compliance software program to over 20,000 prospects globally.
By way of the mix of the most recent expertise, essentially the most correct knowledge and unrivalled experience, GBG helps organisations starting from start-ups to the most important shopper and expertise manufacturers on the earth ship seamless experiences, enabling their prospects to transact on-line with larger confidence.
Headquartered within the UK with over 1,000 staff members throughout 15 international locations.
To seek out out extra about how we assist our prospects set up belief with their prospects, go to www.gbgplc.com
About Acuant
Acuant’s Trusted Identification Platform empowers companies and governments to transact with belief in our digital world. Acuant establishes belief in seconds wherever customers, governments and companies need to transact, preventing fraud and fast-tracking trusted identities. The power to construct, confirm, monitor and securely share digital identities with Acuant’s inclusive expertise is accessible to your entire world inhabitants. AI-powered id verification and regulatory compliance (AML/KYC) options ship unparalleled outcomes and operational effectivity with omni-channel deployment.
Finishing greater than 1.5 billion transactions in over 200 international locations and territories, Acuant powers belief globally for trade leaders in finance, crypto, retail, healthcare, gaming, hospitality and extra.
Hannah Williams
PR Community
00 44 7980 726 004
Kathy Berardi
Carabiner Communications
678.644.4122
[1] Supply: Markets and Markets Identification Verification, and Fraud Detection and Prevention Experiences (2020-2021).
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