GBG increases US presence with $300mn IDology acquisition
UK-based data intelligence specialist GBG announced on Monday that it has agreed to purchase the entire issued share capital of Atlanta-based verification service provider IDology. GBG, which is experiencing strong acquisitions-focused growth throughout the US, will pay US$300mn for IDology. IDology will be GBG’s 11th and largest acquisition since 2011.
IDology’s identification services help to remove friction both in onboarding customers and in the detection of fraud. The company’s CEO and President, John Dancu said: "For the past fifteen years, IDology has provided multi-layered identity verification. With the combination of IDology and GBG, we intend to innovate, delivering exceptional solutions for our customers, focusing on driving customer revenue and preventing fraud. With GBG's expertise in global data, we are all excited to expand our solutions and our trusted consortium network for customers across the globe."
GBG’s software can quickly validate and verify the identity and location of 4.4bn people globally, as well as gain access data gathered by over 200 worldwide partner companies.
The company’s acquisition of IDology comes on the heels of a preexisting working relationship. The two companies have “a history of working together in partnership and share a similar culture with a strong emphasis on people and talent,” according to a statement. Following the acquisition, IDology will retail the entirety of its senior management staff and the company’s employees will officially join GBG.
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"I am delighted to announce the acquisition of IDology. With attractive organic growth, significant synergies and a strong cultural alignment, this is a high-quality addition to GBG,” said GBG CEO Chris Clark. “The combination of IDology and GBG enables us to meet growing customer appetite for an identity verification provider with global capabilities and scale in key markets.”
Clark continued, noting that "We are excited by the compelling strategic rationale behind this acquisition. It enables GBG to quickly expand even further into North America, a key growth territory for the business. We have already built an exciting domestic presence in the US with Loqate, our location proposition, and IDology now gives us an excellent platform for both identity verification and fraud prevention.”