GB Group acquires Data Discoveries
~ Leading Identity Management firm strengthens its tracing capabilities to maximise on continued sector growth ~
LONDON – 7 July 2011 – GB Group plc, the leading Identity Management business that provides services in both the UK and internationally, has today announced the acquisition of Data Discoveries, a provider of tracing software and services in the UK.
Over the past few years there has been a growing demand for tracing services, with the Credit Services Association (CSA) estimating that over £8 billion of debt will be traded this year and that 70 per cent of all instructions to collect debt will involve some form of tracing.
GB Group’s CEO, Richard Law, commented, “Tracing software and services form an important part of Identity Management. We have seen our tracing client base increase by over 26 per cent, resulting in a 37 per cent growth in revenue. This acquisition will confirm the new, combined business as the leader in tracing software and services. Data Discoveries’ clients will complement our existing customer base with more than 100 further customer accounts including The Student Loans Company and Co-Operative Financial Services.”
The combined business aims to provide existing customers with richer tracing software and services portfolio and accelerated product development, while extending the value of tracing solutions into new markets such as national security and fraud investigation.
Data Discoveries’s Managing Director, Ken Naismith, said: “This is a positive move for Data Discoveries. GB Group has a reputation for innovation and the acquisition provides us with access to the resources the business needs to develop our products and services and meet the demands of this growing sector.”
GB Group has a long track record in providing organisations with the richest and most current sources of identity data delivered online, straight to any computer device. The acquisition of Data Discoveries further enhances its tracing proposition in a market of strong growth.
For any further information, please contact:
Maxine Morgan, GB Group
Number: 01244 657333
Emma Coleman, Bite Communications
Number: 020 8834 3485