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ID specialist in share placing to fund £37m deal

GB GROUP, the identity data specialist, is to buy a biometrics software business for £37m.

IDscan Biometrics’ software automates on-boarding of customers and employees by simplifying the identity verification and data capture process.

Its technology helps the authentication of documents including passports, visas, ID cards, driving licenses, utility bills and work permits whilst also capturing facial biometrics which provides proof that those documents are not stolen.

Chester-based GB Group will pay £37m in cash, with up to an additional £8m payable if revenue and EBITDA targets are met between 12 and 18 months after the acquisition.  Read More