12 Feb 2019
Investec helps raise £160m for GB Group plc to fund US acquisition
Investec Corporate and Investment Banking (“Investec”) and Peel Hunt have together raised £160m for GB Group Plc (“GBG”), to help fund the US$300m acquisition of IDology, Inc. (“IDology”).
GBG offers a series of solutions that help organisations quickly validate and verify the identity and location of their customers. Their clients include US e-commerce giants, Asia's biggest banks and European household names. GBG is headquartered in the UK, with over 800 employees across 18 countries.
Headquartered in Atlanta, Georgia, IDology is a private company that provides identity verification and fraud detection services to a primarily US-based customer set.
The acquisition of IDology will enable GBG to quickly expand further into North America, a key growth territory for the business.
Investec and Peel Hunt acted as joint bookrunners on the fundraising.
Investec’s Andrew Pinder commented:
“GBG has built up a truly global business with clients in 79 territories. This acquisition will help accelerate the pace of GBG’s expansion into the US, allowing the business to provide a broader range of products to the US market.”
“GBG is an impressive home-grown success story, and highlights the strength of the UK’s technology sector.”
For more information, please contact:
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7566 9709
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Investec Corporate and Investment Banking
Investec CIB is an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.
This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Corporate and Investment Banking is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.
Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.