TransUnion (NYSE: TRU), a provider of fraud and identity management solutions, acquired Trustev, a Cork, Ireland-based provider of digital verification technology to multiple industries.
TransUnion paid approximately $21m in cash at closing, with agreement to pay up to an additional $23m contingent on Trustev achieving specified retention, revenue and EBITDA targets through 2018.
With the acquisition, TransUnion, which provides fraud and identity management solutions to analyze identity data in order to reduce risk exposure and potential losses, adds to Trustev’s technology, which evaluates online transactions in real time with machine learning, enabling customers worldwide across a variety of industries including financial services, government, healthcare and insurance.
The acquiring company has already integrated Trustev’s technology into its ID Manager product.
Led by Pat Phelan, co-founder and chief executive officer, Trustev was backed by Greycroft Partners, Mangrove Capital Partners, ACT Venture Capital, Telefónica’s Wayra, and Enterprise Ireland.
FinSMEs
13/12/2015