British data intelligence firm GBG to buy Acuant in $736 million deal – FX Empire

British data intelligence firm GBG to buy Acuant in $736 million deal – FX Empire

(Reuters) – Data intelligence specialist GB Group said on Thursday it would buy U.S.-based peer Acuant Intermediate for an enterprise value of $736 million, expanding its identity verification and identity fraud prevention business.

The London-listed company, which uses its location and identity software to help clients including online trading platform Plus500 and retailer THG onboard customers, said it would raise about 305 million pounds ($411.63 million) in equity to partly fund the deal.

($1 = 0.7410 pounds)

(Reporting by Priyanshi Mandhan in Bengaluru; Editing by Vinay Dwivedi)

Source: https://www.fxempire.com/news/article/british-data-intelligence-firm-gbg-to-buy-acuant-in-736-million-deal-813658