Billing company Boku has acquired mobile identity and authentication solutions provider Danal in a $112m deal.
The deal, which sees Boku pick up 100 per cent of the outstanding Danal shares, was valued at $112m including warrants.
Through the acquisition, the companies will establish a mobile identity and authentication solution driven by real-time connections with mobile network operators and third-party data sources. Danal will help Boku to accelerate its mobile identity offerings, expansion into new merchant segments, and grow presence in key geographies.
Danal helps organisations with mobile identity and authentication through a solution that is backed by real-time connections with mobile operators and data sources. The platform is used across the financial institution, healthcare, e-commerce and hospitality spaces, for phone verification and fraud prevention.
It can be used to support compliance with GDPR, KYC, AML, TCPA, PSD2, SCA, and others. Identity proofing tools are backed by computer vision, video streaming, biometrics, and machine learning, to help validate transactions.
Danal CEO Jim Greenwell said, “Boku shares Danal’s commitment to providing top-tier identity services. As well, the two companies have a similar heritage and background with its deep ties to global MNOs. This is a great merger for the two companies and an excellent outcome for Danal customers, partners, employees and shareholders.”
Earlier in the year, Danal formed a partnership with global information company Experian. This was formed to help Experian deliver a more comprehensive identity offering to its clients.
Boku offers a number of solutions for merchants including mobile provisioning for operator led user acquisition, and mobile authentication to streamline user onboarding. The company also offers analytics to help enterprises to monitor and manage their revenues and risks.
