British anti-fraud firm GBG buys out US rival for £233m

A British data firm has snapped up a US rival to build out its identity verification business in the US in a £233m deal.

GBG, an Aim-listed data company, confirmed it will buy out IDology, an Atlanta-based competitor, which will allow it build its presence in North America.

The Chester-headquartered company provides background-checking services and ID verification on 4.4 billion people globally, with clients including payments giant Stripe, betting shop William Hill and Waitrose.

The deal will see GBG raise an additional £160m in financing through a new share placing plus a new £84m bank facility. GBG’s share remained steady at 424p.

GBG chief executive Chris Clark said: We are excited by the…