LSEG to acquire the Global Data Consortium 06 April 2022UK Reporter: Jenna Lomax
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The London Stock Exchange Group (LSEG) is to acquire the Global Data Consortium (GDC), a global provider of identity verification data to support clients with know your customer (KYC) requirements.
The acquisition is expected to close in H1 2022, subject to regulatory approval.
Following completion of the acquisition, GDC will become part of LSEG’s data and analytics division.
Founded in 2012, GDC specialises in delivering electronic digital identity verification.
GDC provides global name and address matching capabilities that enable them to accurately source and enhance data from more than 300 data sources globally.
GDC’s services are currently used within the LSEG customer and third-party risk business, to provide global digital identity verification to customers.
Andrea Remyn Stone, group head, data and analytics LSEG, says: “Adding GDC to the suite of digital identity solutions within our data and analytics division, will enable us to continue to expand our capabilities in this high growth segment, through both direct sales and channel partnerships. I look forward to working with the team at GDC to deliver on our promise of being the platform of choice to manage financial crime related risks.”
Bill Spruill, founder and president, GDC, comments: “The opportunity to accelerate our global growth, leveraging the breadth and scale of LSEG, presents a compelling opportunity for our team to better serve our global customers delivering innovative new solutions for the market.”
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