GB Group (GBG) has acquired IDology, a US identity verification business, for an enterprise value of $300m/£231m. It has placed 39m shares at 410p per share to fund £160m of the purchase price, with the remainder coming from a new credit facility. We estimate that the deal offers significant cross-selling potential and will boost GBG’s international revenues to close to 50%.
13 Feb 2019
GB Group - Expanding eIDV in the US
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GB Group - Expanding eIDV in the US
GB Group PLC (GBG:LON) | 253 7.6 1.2% | Mkt Cap: 639.1m
- Published:
13 Feb 2019 -
Author:
Katherine Thompson -
Pages:
6
GB Group (GBG) has acquired IDology, a US identity verification business, for an enterprise value of $300m/£231m. It has placed 39m shares at 410p per share to fund £160m of the purchase price, with the remainder coming from a new credit facility. We estimate that the deal offers significant cross-selling potential and will boost GBG’s international revenues to close to 50%.