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Experian strengthens its position in fraud detection services
$360million purchase follows a previous acquisition in the fraud detection segment.
Experian plc, a FTSE 100 company providing credit checking services, decision analytics and marketing services, has announced that it has entered into a definitive agreement to acquire CSIdentity Corporation (CSID), a provider of consumer identity management and fraud detection services based in the USA.
CSID is being acquired at a purchase price of US$360million from private equity and other investors, management and employees. CSID uses patent-protected technology to access a variety of data and monitors websites, blogs, bulletin boards and chat rooms in real time to identify illegal trading of personal information. Its clients include information services companies, retailers and financial institutions.
The acquisition strengthens Experian’s existing position in the provision of fraud detection services, part of the Data Analytics segment of the FinTech sector, and follows its US$324million acquisition in 2013 of 41st Parameter, another US-based fraud detection provider with technology that can identify devices that are being used to access an online bank account to determine whether that device would put the transaction at risk.
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