London Stock Exchange Group (LSEG) is continuing its acquisition spree, buying digital ID firm Global Data Consortium to help clients with know your customers requirements.
Founded in 2012, GDC provides global name and address matching capabilities from over 300 data sources in over 70 countries.
GDC’s services are currently used within the LSEG Customer and Third-Party Risk business, to provide global digital identity verification to customers. Following completion, GDC will be part of LSEG’s Data & Analytics division.
Phil Cotter, group head of customer & third-party risk solutions, LSEG, says: “This transaction delivers a compelling opportunity to acquire a strategic capability aligned to our vision of becoming a market leading global Digital Identity and Fraud (DI&F) solutions provider. The acquisition of GDC, combined with our existing capabilities from GIACT and Qual-ID, will enable customers to verify digital identity and protect against fraud globally with a suite of real-time, accurate solutions.”
The stock exchange's market data unit Refinitiv acquired a 11% stake in GDC in 2020.
The terms of the transaction have not been disclosed.
The deal caps a busy few months for LSEG, which has also recently acquired Tora and Quantile, while investing in Floww, BondCLiQ, Open Exchange and Finbourne.