StockMarketWire.com - GBGroup, the identity data intelligence specialist, has acquired the remaining 74.5% of the shares of Loqate Inc, the San Francisco-based provider of specialist location-based software and data, that it did not already own. The group's acquisition of 74.5% of shares in Loqate takes its holding to 100%.

Loqate is one of the only businesses in the world providing international addressing and location data solutions, which are key attributes of an individual's identity. Loqate's unique global location intelligence technology platform enables clients to capture, verify and geocode almost any address worldwide.

It powers a significant proportion of the world's data quality tools through partners including Oracle, IBM, Pitney Bowes and Software AG, as well as supporting data solutions in the rapidly expanding Location-Based Service and Identity Verification sectors. It thereby adds products and services that are highly complementary with those of GBGroup.

The consideration will consist of cash on completion of US$13.4m, with a further maximum US$2.0m payable contingent on a revenue growth target for the 12 month period ending 31 December 2015.

The acquisition is expected to be earnings enhancing in the current financial year.




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