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Mixture helps GBG’s function to construct belief in a digital world, delivering differentiated options for all factors of the identification verification and identification fraud buyer journeyAcquisition permits GBG to additional increase into the US – the world’s largest and most strategically essential marketplace for location, identification and fraud servicesCombination accelerates GBG’s information, product and know-how ambitions, delivering world-class know-how throughout the client lifecycle and bringing collectively the business’s most expert consultants in identification verification and fraud preventionNOVEMBER 18, 2021, LONDON: GB Group plc (AIM: GBG), the consultants in digital location, identification and identification fraud software program, has right this moment introduced that it has reached settlement to accumulate Acuant, a number one identification 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 international digital identification market with a mixed income of c.£265 million.An extended-time companion, Acuant has a product suite that may be a pure complement to GBG’s present US-based companies from IDology. The acquisition creates a pacesetter within the strategically essential North American market and accelerates the rollout of GBG’s identification and fraud options globally. The mixed product portfolio will present the business’s greatest end-to-end capabilities and an enhanced know-how platform that can help each corporations’ present community of companions and clients as they handle billions of world transactions throughout a number of business sectors.Acuant has purposefully developed its Trusted Id Platform with a robust orchestration layer and straightforward to configure journey builder, making best-in-class know-how accessible to all. This platform permits the seamless mixture of information, paperwork, biometrics and analytics for consumption throughout the whole buyer lifecycle: onboarding, step-up authentication, KYC/AML compliance, fraud and threat evaluation, real-time monitoring and identification re-use. These capabilities, out there as level options or built-in companies, are relevant throughout all client or citizen going through markets and might be deployed globally, constructing upon GBG’s present presence in APAC and EMEA.The platform is scalable internationally, permitting GBG and Acuant clients to deploy options in a number of geographies and accelerating GBG’s progress in APAC and Europe.The worldwide identification verification market is projected to succeed in $15.8 billion by 2025 and the fast-growing identification 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 business that should belief an identification, whether or not pushed by managing compliance, decreasing the price of fraud or enhancing buyer expertise on the level of buy.GBG and Acuant share a standard imaginative and prescient to create a platform that permits belief within the digital financial system, and this imaginative and prescient is underpinned by related cultures and customary values, confirmed over years of collaboration on present industrial tasks. Acuant brings a workforce of over 200 extremely skilled digital IDV professionals and over 1,000 clients, with almost half of revenues powered by Acuant’s robust channel companion 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 now we have 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 information, doc and biometric identification verification companies and strengthen our mutual functionality to capitalise on the fast-growing identification fraud market.The US is the most important and most strategic marketplace for location, identification and fraud companies. The mix of GBG and Acuant gives 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 know-how portfolio which we will use to help our present clients in new methods in progress geographies akin to APAC and Europe the place we have already got a powerful footprint. The workforce at Acuant brings new abilities 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 targets.Yossi Zekri, Chief Govt Officer at Acuant, mentioned: “That is an thrilling day for Acuant. We’re very pleased with every little thing that Acuant has achieved thus far – constructing a world-class know-how portfolio and a powerful market place throughout a number of sectors. There’s nonetheless vital alternative forward and becoming a member of the GBG household is one of the simplest ways for us to capitalise on these alternatives. Our buyer, know-how 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 clients. We’re very a lot trying ahead to working collectively within the years forward.” About GBGGBG are the consultants in digital location, identification and identification fraud software program, serving to organisations throughout the globe get rid of friction from their digital experiences. GBG develop and ship digital identification, handle verification, fraud prevention and compliance software program to over 20,000 clients globally.By the mix of the newest know-how, essentially the most correct information and unrivalled experience, GBG helps organisations starting from start-ups to the most important client and know-how manufacturers on the planet ship seamless experiences, enabling their clients to transact on-line with higher confidence.Headquartered within the UK with over 1,000 workforce members throughout 15 international locations.To search out out extra about how we assist our clients set up belief with their clients, go to www.gbgplc.comAbout AcuantAcuant’s Trusted Id Platform empowers companies and governments to transact with belief in our digital world. Acuant establishes belief in seconds anyplace shoppers, governments and companies need to transact, combating fraud and fast-tracking trusted identities. The flexibility to construct, confirm, monitor and securely share digital identities with Acuant’s inclusive know-how is accessible to the whole international inhabitants. AI-powered identification 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 business leaders in finance, crypto, retail, healthcare, gaming, hospitality and extra.Hannah WilliamsPR Network00 44 7980 726 004[email protected]Kathy BerardiCarabiner Communications678.644.4122[email protected] [1] Supply: Markets and Markets Id Verification, and Fraud Detection and Prevention Studies (2020-2021).
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