In a deal worth up to £6m, Liverpool firm Transactis has been purchased by Chester-based intelligence specialist, GBGroup.

It has been funded by £4.5m in cash, £500,000-worth of GBG shares, and a further £1m in shares, depending on certain conditions being met within a year.

Transactis handles customer transactional data and delivers anti-fraud and marketing-related services to the private and public sectors. Clients include Nationwide Building Society, Betfair, HMRC and the Speke-based Shop Direct Group.

For the year ended June 30, Transactis had revenues of £6.3m, and a gross profit of £3.7m.

GBG chief executive Richard Law said:

“Transactis has made a considerable investment over the last few years to create a strong technology platform and attracted some excellent customers in both the public and private sectors.”

“This acquisition will add a valuable data asset which can be deployed in our existing software products and further strengthens GBG’s identity intelligence credentials.”

Source: Liverpool Echo
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Words: Daniel Pearce