Squire Sanders’ Manchester and Sydney offices have advised AIM-listed GBGroup, the UK-based identity intelligence specialist, on its acquisition of the entire issued share capital of DecTech Solutions Pty Ltd (DecTech) for a total consideration of up to £20.5million and on associated debt and equity fund raising. DecTech is an Australian provider of fraud detection, risk management and customer on-boarding solutions.
GBGroup deploys the latest technology to help companies find, verify, target and retain customers. Its identity verification software validates more than four billion consumers across the globe, with online ID verification enabling companies to authenticate potential customers in real-time. Working in 240 countries and territories, GBGroup's technology provides identity intelligence that enables e-commerce on a global scale. DecTech serves customers in 42 countries across six locations in Asia, Australia and Europe where they support banks, financial services and insurance as well as e-commerce clients, providing fraud detection and prevention services. More recently they have expanded into the Middle East, Africa and South America, leveraging their international customer base. The acquisition by GBGroup will enable DecTech to continue to expand within Asia whilst providing an opportunity to work with GBGroup's customers across Europe and North America.
The Squire Sanders team was led by partner and Global Corporate Practice EMEA Chair, Jane Haxby, in Manchester, working with Damien Brown in Manchester and with partner Campbell Davidson and senior associate Carly White in Sydney. The team advised GBGroup on the acquisition with due diligence in 11 jurisdictions.
“We are delighted to have advised long standing client GBGroup on this important transaction. It will create significant opportunities for their global expansion,” commented Jane Haxby. “Our offices in the UK and Australia worked closely with colleagues including in China, Hong Kong, Indonesia, Korea and Spain to deliver the kind of cross-border service, informed by knowledge of the sector, which market leading companies require for international and strategic growth.”