NortonLifeLock, a global leader in consumer cyber safety, announced LexisNexis Risk Solutions, part of RELX, has entered into an agreement to acquire ID Analytics (IDA), a trusted provider of credit and fraud risk solutions for enterprises, for a purchase price of $375 million.
Based in San Diego and founded in 2002, ID Analytics technology delivers risk insights to enterprises through the combination of proprietary data, patented analytics, and near real-time cross-industry consumer identity behavior.
ID Analytics provides credit and fraud risk solutions for enterprises with patented analytics and has proven expertise and near real-time insight into consumer behavior. More than 450 companies in the U.S. rely on ID Analytics to make risk-based decisions to improve customer experiences, enhance revenue, reduce fraud and drive cost savings.
“The sale of ID Analytics is another step in the transformation of NortonLifeLock into a pure-play consumer cyber safety leader,” says Vincent Pilette, CEO, NortonLifeLock. “We can now be completely focused on our singular mission to protect all areas of consumers’ online lives.”
ID Analytics will become part of the LexisNexis Risk Solutions Business Services group, which uses vast data resources, technology, linking and analytics to deliver actionable insights that enable businesses to better analyze and assess risk, resulting in better outcomes.
Rick Trainor, CEO of LexisNexis Risk Solutions, Business Services, said, “ID Analytics is widely recognized in the fraud and identity and credit risk space for its differentiated contributory data assets and advanced analytics capabilities.
“Combined with our strengths of verifying and authenticating physical and digital identities, our customers will benefit from an even more comprehensive approach to detecting and preventing fraud and managing risk.”
As part of the transaction, NortonLifeLock customers will continue to benefit from alerts powered by ID Analytics and the company’s strong ongoing data partnership with LexisNexis® Risk Solutions.
The transaction is subject to customary conditions and regulatory consents and is expected to close in the first calendar quarter of 2020.