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Relx to acquire ID Analytics
Posted on Tuesday, 14 January 2020 10:04
NortonLifeLock has agreed to offload credit and fraud risk solutions provider ID Analytics to Relx’s LexisNexis Risk Solutions for USD 375.00 million.
The target will become part of the acquiror’s business services group, which uses vast data resources and technology to deliver actionable insights to enable customers to better analyse and assess risk, resulting in better outcomes.
Founded in 2002, ID Analytics provides credit and fraud risk services for enterprises with patented analytics and has proven expertise and near real-time insight into consumer behaviour.
The group has more than 450 customers in the US that rely on the company to make decisions to improve customer experiences, enhance revenue, reduce fraud and drive cost savings.
NortonLifeLock said its users will continue to benefit from alerts powered by ID Analytics and the firm’s strong ongoing data partnership with LexisNexis.
The Arizona-based and Nasdaq-listed group believes the sale will allow it to further sharpen its focus on consumers.
Rick Trainor, chief executive of LexisNexis, said: “Our acquisition of ID Analytics is in line with our growth strategy, which has organic growth as our cornerstone, enhanced by acquisitions targeting data and analytics capabilities that complement our existing business.”
The transaction is subject to regulatory approval, among other conditions, and is expected to take place in the first quarter of 2020.
Vincent Pilette, chief executive of NortonLifeLock, noted: “The sale of ID Analytics is another step in the transformation of NortonLifeLock into a pure-play consumer cyber safety leader.”
Relx is a global provider of information-based analytics and decision tools for professional and business customers.
The group serves customers in more than 180 countries and generated revenue of GBP 3.89 billion in the six months ended 30th June 2019.
Shares in Relx rose slightly to USD 25.45 following the announcement yesterday, giving the company a market capitalisation of USD 49.23 billion.
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