A Manchester based team from Squire Sanders Hammonds has advised longstanding client, GB Group Plc the identity management specialist, on their acquisition of DataDiscoveries Ltd, which was announced to the markets today.
GB Group Plc has announced the acquisition of the entire issued share capital of DataDiscoveries for a total consideration of £.061m.
DataDiscoveries is a provider of trace software to the UK Government and the debt collection industry enabling organisations to trace and make contact with individuals.
Chester based GB Goup Plc is the UK's leading identity management business, using its technology to protect, predict and provide information that is used to maximise customer value. The business has shown significant growth over the last two years and it is the view of the management of both GB and DataDiscoveries that the combined business will be the market leader in this developing market
Commenting on the acquisition, Richard Law, Chief Executive of GB, said: “This acquisition of DataDiscoveries is an excellent strategic fit which will further strengthen GB’s ID Trace business by diversifying its customer base, broadening its addressable markets and increasing its geographical coverage within the UK”.
Squire Sanders Hammonds’ corporate partner, Andrew Millar who previously advised the company on their admission to AIM in 2010, added: “We are delighted to have advised a company which has achieved excellent growth recently and continues to push forward with its strategy to be the UK’s leader in identity management. It is rewarding to be involved with a business and management team that are looking to the future”.
Leading the team advising GB Group was corporate partner, Andrew Millar, assisted by associates Damien Brown and Holly Louden. Tax advice was provided by partner Patrick Ford and associate Jenna Ridley.
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