GB Group acquires fraud services provider DecTech

Friday 25 April 2014 11:48 CET | News

GB Group, an identity intelligence business, plans to acquire DecTech, an Australian provider of fraud detection, for the sum of GBP 20.5 million, with an initial GBP 14 million transaction.

The acquisition will allow GB Group to extend its capabilities to new areas such as credit application support and ongoing transaction monitoring.

GB Group has also announced it plans to raise GBP 11 million through a placing. Peel Hunt has conditionally placed 8 million new ordinary shares of the company at GBP 0.025 each at a price of GBP 1.37 per placing share with certain institutional investors. The proceeds will be used to partially fund the acquisition.

GB Group expects to post an operating profit of GBP 7.2 million for the year to 31 March 2014 – up from GBP 5.5 million in 2013.

Founded in 2001, DecTech is a provider of credit risk management, fraud detection and customer management solutions to banks, financial services and insurance companies.

GB Group provides a series of services including data cleaning validation & appending, location data specialists, tracing, identity management, customer registration, customer targeting & retention, profiling & analysis, fraud management, ID verification, AML, email marketing, identity based marketing.

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Keywords: GB Group, DecTech, fraud, identity intelligence business, credit risk management, shares, banks, customer management
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime