The London Stock Exchange Group (LSEG) has agreed to acquire Global Data Consortium for an undisclosed fee.
GDC is a global provider of high-quality identity verification data to support clients with KYC requirements.
According to LSEG, GDC provides ‘global name and address matching capabilities’ that enable the group to accurately source and enhance data from over 300 data sources worldwide and to deliver high-quality identity data in near real-time for over 70 countries.
Following the completion of the acquisition – which is anticipated to close in the first half of this year – GDC will be part of LSEG’s data and analytics division.
LSEG head of data and analytics Andrea Remyn Stone said, “Adding GDC to the suite of digital identity solutions within our Data & Analytics division, will enable us to continue to expand our capabilities in this high growth segment, through both direct sales and channel partnerships. I look forward to working with the team at GDC to deliver on our promise of being the platform of choice to manage financial crime related risks.”
LSEG head of customer and third-party risk solutions Phil Cotter added, “This transaction delivers a compelling opportunity to acquire a strategic capability aligned to our vision of becoming a market leading global Digital Identity and Fraud (DI&F) solutions provider. The acquisition of GDC, combined with our existing capabilities from GIACT and Qual-ID, will enable customers to verify digital identity and protect against fraud globally with a suite of real-time, accurate solutions.”
GDC founder and president Bill Spruill also remarked, “I’m thrilled that GDC is joining the LSEG family. Building on the previous partnership followed by the investment, with the Customer and Third-Party Risk business, LSEG always felt like a natural fit for GDC. The opportunity to accelerate our global growth, leveraging the breadth and scale of LSEG, presents a compelling opportunity for our team to better serve our global customers delivering innovative new solutions for the market.”
Copyright © 2022 FinTech Global
