TransUnion Acquires Antifraud Provider Trustev
Dec. 14, 2015
TransUnion, the Chicago-based credit bureau, has bolstered its fraud and identity management solutions by acquiring Irish antifraud technology provider Trustev. The $45 million deal included $21 million in cash up front with the balance contingent on hitting certain revenue and earnings targets. Based in Cork, Ireland, Trustev uses big data to analyze devices and behavior to root out fraud in e-commerce transactions. The company’s technology will be integrated into TransUnion’s existing ID Manager product and Trustev’s solution will benefit from the data it now has access to through TransUnion.
“Together, TransUnion and Trustev create a very powerful combination of software intelligence and rich data to stop online fraud,” said Pat Phelan, co-founder and CEO of Trustev. “We will be able to help companies across many industries better spot bad actors online, and block their efforts, while letting good customers through. With TransUnion’s large global reach and Trustev’s online technology, this is a very positive move for all of our customers.”
The deal echoes one from TransUnion competitor Experian, which acquired antifraud technology provider 41st Parameter two years ago .