Experian agrees to acquire 192business
Experian, the global information services company, announces that it has agreed to acquire 192business Limited, subject to approval by the Office of Fair Trading. 192business is a leading provider of online identity verification services based in the United Kingdom.
Launched in 2002, 192business helps organisations to verify and manage the identity of their customers online in order to minimise fraud and risk. Increasing regulation, the rise in fraud globally, growth in e-commerce sales and the move from traditional offline identity checks to online checks are all contributing to growth in the identity verification market.
192business provides organisations with timely identity verification, including personal data verification, fraud screening, online document verification and voice verification. It services a widerange of global clients, covering segments such as e-commerce, insurance, utilities, retail, finance and legal services.
The acquisition will form part of Experian's Decision Analytics business line, expanding its range of identity verification and fraud prevention products and services.
In the year to 31 March 2011, 192business reported revenue from continuing operations of US$11m, and at 31 March 2011 had gross assets of US$9m. 192business will be acquired from its founding shareholder, senior employees and private investors. The acquisition will be funded from Experian's existing cash resources.