GBG, the U.K.-based identity data intelligence specialist, has announced it is acquiring IDology, a U.S.-based provider of identity verification and fraud prevention services, for $300 million. GBG has completed 11 acquisitions since 2011, but its all-cash acquisition of IDology is its largest to date.
“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 in a press release. “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.”
GBG’s existing U.S. identity business has customers across technology, payments and retail verticals. Loqate, its location intelligence solution, already has offices in New York City and San Francisco, and has worked with companies such as Abercrombie and Fitch, Oracle and Nordstrom. The acquisition of IDology will boost GBG’s capabilities and reach in the States.
“We are excited by the compelling, strategic rationale behind this acquisition,” added Clark. “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 U.S. with Loqate, our location proposition, and IDology now gives us an excellent platform for both identity verification and fraud prevention.”
As part of the acquisition, IDology will keep its senior management team, and its employees will all join GBG.
“For the past 15 years, IDology has provided multi-layered identity verification,” said John Dancu, IDology’s President and CEO. “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.”