Updates

GB Group - Buys US based ID verification business

March 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

GB has announced the purchase of Atlanta-based IDology, a US-based provider of ID verification services that enhances its presence in North America, for £231m. The purchase has been funded with £84m of debt and £160m from a placing of 39m shares at 410p. The deal is priced at a rich looking 18x historic operating profit but looks compelling.GB’s service lines are presently identity verification, fraud prevention and location intelligence and its combination with IDology’s technology platforms creates a global provider of identity verification and fraud detection services. GB and IDology already know each other well having partnered in recent years, each recommending the other to multination ...

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