- Identity data intelligence specialist GB Group has conditionally agreed to acquire Postcode Anywhere (Holdings) Ltd (PCA Predict) for £73.8m.

It said this included £10.4m of cash on the balance sheet of PCA Predict.

GBG said it intends to finance the acquisition through a placing of 17,058,824 shares to raise £58,000,000; £5,852,423 in existing cash and £10,000,000 borrowings under bank facilities.

Chief executive Chris Clark said: "I am delighted to announce the acquisition of PCA Predict.

"Bringing together PCA Predict's easy to deploy SaaS platform with our existing in depth GBG identity data intelligence data sets creates a leader in address data intelligence.

"There is a strong strategic and cultural fit in combining the capabilities of PCA Predict and GBG which will bring significant benefit to our customers.

"The board and I are looking forward to the future success of GBG and PCA Predict."

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