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IDENTITY SPECIALIST GBG IN £45M SWOOP

GBG, the Chester-headquartered identity intelligence specialist whose products help customers to fight fraud, has struck a deal to buy a document authentication business for a fee that could rise to £45m. The purchase will be part-funded through a £25m share placing.

The company has conditionally agreed to acquire IDscan Biometrics for £37m in cash on completion along with a maximum of £8m dependent on reaching revenue and EBITDA targets between 12 and 18 months from completion.

IDscan Biometrics helps with the authentication of documents including passports, visas, ID cards, driving licenses, utility bills and work permits while also capturing facial biometrics that provide proof that those documents are not stolen. Read More