UK-based Identity Data Intelligence specialist GBG has agreed to acquire the Atlanta-based identity verification and fraud prevention services provider IDology for $300 million in cash.
Based in Chester, GBG helps customers validate and verify the identity and location of their users.
Founded in 2003, IDology provides real-time technology solutions that verify an individual’s identity and age to help monitor and stop fraudulent activity.
In the U.S., GBG provides identity services to customers across technology, payments and retail verticals. The company says its location intelligence solution has seen high demand in the U.S. market. IDology’s U.S. customer base currently accounts for 99% of its revenue, which will expand GBG’s U.S. footprint significantly.
Following the acquisition, IDology will retain its entire senior management team and its employee base will join GBG.
“For the past fifteen years, IDology has provided multi-layered identity verification. 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,” John Dancu, IDology’s President and CEO, said.