StockMarketWire.com - Data intelligence specialist GBG said Monday it had acquired Vix Verify Global, an Australian provider of identity verification and location intelligence software, for about £21.2m.

The company said that the acquisition of Vix Verify Global, or VVG, would bring additional scale to GBG's identity verification and location intelligence solutions in Australia and New Zealand, two markets where the company currently provided fraud detection solutions to customers.

VVG ended the year to 30 June 2018 with net revenues and profit before tax of A$21.9m and A$0.8m, respectively. VVG had net assets of A$0.1m.

'I am delighted to announce the acquisition of Vix Verify Global. Its established track record of providing identity and location verification solutions will support our growing business in Australia and New Zealand,' said Chris Clark, GBG's CEO.

'There are clear growth opportunities between GBG and VVG and this acquisition is a logical step in our strategy to expand internationally, extend the services we offer existing customers and increase our share in existing markets.'


At 9:32am: [LON:GBG] GB Group PLC share price was +6.5p at 543.5p



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