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UK-based fraud prevention company GBG has announced its plans to buy US-based identity platform Acuant for USD 736 million to expand into the US.
The acquisition accelerates the rollout of GBG’s identity and fraud solutions globally. The combined product portfolio will provide the industry with capabilities and an enhanced technology platform that will support both companies’ existing network of partners and customers as they manage billions of global transactions across multiple industry sectors.
Acuant’s platform enables the seamless combination of data, documents, biometrics and analytics for consumption across the entire customer lifecycle: onboarding, step-up authentication, KYC/AML compliance, fraud and risk analysis, real-time monitoring and identity re-use. These capabilities, available as point solutions or integrated services, are applicable across all consumer or citisen facing markets and can be deployed globally, building upon GBG’s existing presence in APAC and EMEA.
This transaction is expected to complete all necessary legal and regulatory steps by end November 2021.
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