Financial market data provider London Stock Exchange Group has agreed to acquire digital identify verification firm Global Data Consortium. Terms of the agreement were not disclosed, but the transaction is expected to be completed in the first half of 2022, pending regulatory approval.
Global Data Consortium’s technology is already used in LSEG’s customer and third-party risk services, and GDC will become part of LSEG’s data and analytics division once the transaction is completed.
“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,” Andrea Remyn Stone, group head of data and analytics at LSEG, said in a news release. “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.”
GDC provides global name- and address-matching capabilities to accurately retrieve and enhance data from more than 300 sources in 70-plus countries.
“I’m thrilled that GDC is joining the LSEG family,” Bill Spruill, GDC’s founder and president, said in the release. “Building on the previous partnership followed by the investment, with the customer and third-party risk business, LSEG always felt like a natural fit for GDC.”