Identity intelligence specialist GBGroup has entered into an agreement to acquire anti-fraud and marketing related services company Transactis for a total consideration of up to £6 million (€7.5 million/$9.7 million).
The initial consideration will be satisfied by a cash payment of £4.5 million and £500,000 of shares in GBGroup.
An additional £1 million of consideration in shares will be deferred for a period of 12 months if certain performances targets are met.
UK-based Transactis aggregates customer transactional data and delivers anti-fraud and marketing related services to the private and public sectors.
GBGroup said that the acquisition would strengthen its identity intelligence offerings, add a technology portfolio to complement its existing solutions and bring with it recurring revenue with various blue chip customers.
GBGroup chief executive officer Richard Law said: “Transactis has made a considerable investment over the last few years to create a strong technology platform and attracted some excellent customers in both the public and private sectors.
“This acquisition will add a valuable data asset which can be deployed in our existing software products and further strengthens GBG’s identity intelligence credentials.”
source : www.igamingbusiness.com
