GB Group plc, the leading Identity Management specialist, has today acquired the highly regarded customer registration and address management company, Capscan Parent Ltd (Capscan).
The acquisition adds 54 people, robust technology and a client portfolio of more than 1,800 customers, which includes ASOS, Ocado, and Virgin Wines.
GB Group has undertaken 3 acquisitions in the last 6 months. The latest acquisition of Capscan consolidates its position to be the market leader in Identity Management both in the UK and internationally. Together the acquisitions should increase the revenue of GB Group to around £35m from £24m a year ago.
GB Group also recently announced that it had added Denmark and South Africa to its international Identity Verification service, bringing the number of people globally that it is able to verify online to circa 1 billion.
The agreement is the culmination of strong periods of growth for both companies and underpins GB Group's strategy to offer businesses the most far reaching and innovative Identity Management solutions, a market it estimates to be worth circa £435 million in the UK alone and significantly more globally. The Management believes the combined business positions the Group as the clear number 2 in the growing customer registration and address management software solutions market, increases its presence in the provision of UK address management solutions and presents greater opportunities for GB Group to capitalise on the opportunity in International addressing services which is experiencing strong growth and where GB Group already provides wider age and identity verification for businesses operating in countries such as USA, Canada, Germany, Australia and South Africa. Capscan has very strong credentials in International Addressing solutions with access to International data for 240 countries.
With a strong heritage, Capscan is well respected in its field, bringing innovative products, an exceptional network of partners, as well as a loyal and established customer base. GB Group provides a scalable support infrastructure, a platform for investment and an exd an experienced mmanagement team for growth. The addition of Capscan follows two previous acquisitions by GB Group in the last six months (Data Discoveries Ltd and Advanced Checking Services Ltd), adding additional Identity Management expertise.
GB Group CEO Richard Law said, "This is most definitely a case of the whole being greater than the sum of the parts - we have long-admired Capscan's impressive history and client base as a rival. We are therefore, excited to be bringing the Capscan and GB Group teams and product offerings together and this third acquisition in six months further demonstrates our commitment to accelerate our share of the growing market for online Identity Management. Identity Management is a fundamental enabler of online business and this acquisition significantly enhances GB Group's strategy and prospects in this market. I'm very excited for the future prospects of GB Group."
Terry Hiles, Managing Director from Capscan added, "Combining the strengths of two leading address management companies is an exciting prospect and our collective potential, both in the UK and globally, is significant, especially in the bigger, highly valuable field of Identity Management. I imagine competitors will be intrigued and even nervous about this move - and rightly so. The combination of our businesses with our desire to evolve with our clients' needs and a history of innovation, will make us a force to be reckoned with."
Richard Law concludes: "The global Identity Management opportunity is exciting. We know that businesses, especially those looking to trade online and exploit cross-border opportunities, are grappling with a multitude of trading and compliance challenges, especially in quickly emerging markets. Businesses want peace of mind that customer data can be instantly verified and captured accurately and also that they have the right level of insight to maximise customer profitability. The online market is growing exponentially and so is GB Group's reputation among online brands. There's a clear opportunity for us to provide the tools for this online gold rush."