US private equity firm GTCR is considering a £1.3 billion deal to acquire UK-based digital identity specialist GB Group (GBB), according to a report by Private Equity Insights.
The report cites a statement by the Chicago-based private investment firm as confirming recent press speculation that it is interested in acquiring GB Group, which is listed on the London Stock Exchange.
The statement also said that, as yet, there is no certainty a formal bid will be made and that further statements will be made ” as and when appropriate”.
Now that talks have commenced, GTCR has until 4 October to make an offer for GBG, which was founded in 1989 and has been providing identity verification services to customers around the world since 2006. The firm also offers data and document verification, as well as compliance tools to help businesses spot potential fraud and comply with anti-money laundering and know your customer (KYC) regulations.