Chester-headquartered GB Group has snapped up Cloudcheck, a New Zealand-based identity verification specialist.
The group has spent £14 million to acquire the counterpart, which is set to generate revenues of around NZ$5 million (£2.45 million) in the year ending March 31st.
The Cloudcheck electronic identity verification allows businesses to check customer identities using biometric checks, bank details, government data, and more.
Its acquisition comes not long after GB Group expanded further into North America with a takeover of LA-headquartered Acuant for the value of $736 million.
“We are delighted with the acquisition of Cloudcheck,” said Chris Clark, CEO of GB Group. “It has established a market leadership position in New Zealand’s electronic IDV market by closely understanding local customer needs and delivering a strong technology-led solution.
“The Cloudcheck platform will be able to consume GBG’s international data and create an opportunity for our New Zealand customers to benefit from the breadth of other identity and anti-fraud services we can provide.
“Cloudcheck will also complement GBG’s successful approach to its identity strategy in Australasia – providing experienced local presence and best-of-breed domestic product to our customers.”
