UK-based identity intelligence specialist GBGroup has moved to enhance its presence in the US gaming market by acquiring the entire issued share capital of Loqate, a provider of global location intelligence data and technology.
The deal to acquire the California-based company is worth $13.4 million (€12.3 million).
Under the agreement, GBGroup will utilise Loqate’s services to expand its own reach and increase its market offering to new markets and customers both in the US and around the world.
GBGroup will be able to bring together all data behind its address and identity verification solutions into one common global platform, which it said will make for a “seamless integration of registration, on-boarding and identity checking processes”.
The company also noted that its expansion in the North American market will be supported by Loqate’s partnerships with various software companies.
“As an investor in Loqate over the last four years we have seen the business grow quickly and establish first-class reseller relationships with blue-chip partners,” GBGroup chief executive officer Richard Law said.
“Our expectation is that the business will continue to grow and that the customer base will provide further opportunities for the cross sell of GBG products and services.
“The acquisition also gives GBG a strategic footprint in Silicon Valley from which to market and sell our growing portfolio of products and services into mainland USA and Canada.”
Martin Turvey, chief executive officer at Loqate, added: “Our acquisition by GBG allows us to extend the positive relationship we already enjoy and to offer an exciting new range of identity-based products and services to our existing customers, as well as to new international markets.
“We believe that this will secure a future place for our location intelligence products within a truly global suite of identity-related services.”
source : www.igamingbusiness.com