TransUnion (NYSE: TRU) has announced that it has completed the acquisition of iovation, one of the most advanced providers of device-based information in the world, strengthening its leadership position in fraud and identity management.
iovation pioneered the device intelligence industry and provides a highly advanced digital device reputation consortium, with insight into nearly 5 billion unique devices from more than 35,000 leading brands across more than 50 countries. With technologies that can dynamically identify new fraud patterns as they emerge, TransUnion and iovation’s combined solutions will empower customers to quickly incorporate and adapt strategies to the fast-changing and evolving fraud landscape.
“The completion of this acquisition allows us to begin efforts to seamlessly integrate iovation’s device identity and consumer authentication capabilities into IDVisionSM, TransUnion’s suite of innovative fraud and identity solutions,” said Jim Peck, TransUnion’s president and chief executive officer. “The combination of our solutions will create an unmatched network of offline and online identities that will benefit both our business customers, and ultimately, consumers who are transacting with them.”
iovation’s extensive customer base and channel partners, including Callcredit, TransUnion’s recently completed acquisition in the U.K., will also expand the company’s footprint globally and in markets like gaming and retail.
TransUnion previously announced that it had agreed to acquire iovation on May 18, 2018, and received regulatory approval from the Federal Trade Commission on June 15, 2018. Financial terms were not disclosed.
Source: TransUnion Press Release