The future looks bright for award winning Scottish company, Data Discoveries, a provider of tracing software and services in the UK, following its acquisition by GB Group plc, the leading Identity Management business that provides services in both the UK and internationally.
The move presents a huge opportunity for Edinburgh based Data Discoveries.
Data Discoveries’s Managing Director, Ken Naismith, said: “This is a positive move for Data Discoveries. GB Group has a reputation for innovation and the acquisition provides us with access to the resources the business needs to develop our products and services and meet the demands of this growing sector.”
GB Group has a long track record in providing organisations with the richest and most current sources of identity data delivered online, straight to any computer device. The acquisition of Data Discoveries further enhances its tracing proposition in a market of strong growth.
Over the past few years there has been a growing demand for tracing services, with the Credit Services Association (CSA) estimating that over £8 billion of debt will be traded this year and that 70 per cent of all instructions to collect debt will involve some form of tracing.
GB Group’s CEO, Richard Law, commented, “Tracing software and services form an important part of Identity Management. We have seen our tracing client base increase by over 26 per cent, resulting in a 37 per cent growth in revenue. This acquisition will confirm the new, combined business as the leader in tracing software and services. Data Discoveries’ clients will complement our existing customer base with more than 100 further customer accounts including The Student Loans Company and Co-Operative Financial Services.”
The combined business aims to provide existing customers with richer tracing software and services portfolio and accelerated product development, while extending the value of tracing solutions into new markets such as national security and fraud investigation.
Notes to Editors
GB Group is a global leading Identity Management business. It helps organisations recognise and verify all elements of an individual’s identity at every interaction. Through the application of our proprietary technology, we enable organisations to connect, communicate and transact with people safely, responsibly and profitably. In doing so, we help businesses like O2, Laura Ashley, HMRC, HBoS, LloydsTSB, Virgin Games, PartyGaming, Betfair and Ladbrokes understand their customers better to create more meaningful customer interactions – and reduce costs across the business.
GB Group has four complementary Identity Management offerings:
ID Verification – which provides the ability to verify consumers' identities remotely, without the physical presentation of documentation, in order to combat ID fraud, money laundering and restrict access to age related purchases and gambling
ID Customer Registration – which includes software and services for quick and accurate customer registration and validation of records
ID Marketing Services – which provides database services so our clients can better understand, target and retain their customers and offers accurate and up-to-date identity information for their contact strategies
ID Tracing Services – which provides the largest and most accurate picture of the UK's population and properties in order to locate and contact the right individual, first time
GB Group is listed on the London Stock Exchange (GBG). For more information, please visit GB Group’s website: www.gb.co.uk. GB Group – because identity matters™
GB Group key points
Founded in 1989
Specialist in the processing and management of personal identity information
Securely processes data from sources containing more than 2 billion records every week
Acknowledged leader in identity management solutions, focussing on the provision of software and services to help businesses connect, communicate and transact with their customers over the Web safely and responsibly
Strong growth in the area of ID tracing – locating people in order to find lost family or friends, to contact beneficiaries or connect with people who owe money and may require debt management support or advice
Can verify the identity information of citizens in 23 countries across the globe
163 employees mainly based in Chester, UK
£24.4 million group turnover with profits of £1.9 million
Accredited to ISO 27001
Data Discoveries key points
Founded in 1996
Data Discoveries is a leading data management specialist based in Edinburgh
They have been working with public sector and blue chip companies like Royal Mail, Prudential, Ticketmaster and Matalan, for over fifteen years
Data Discoveries is one of the few organisations with staff who have high level government security clearance
They are licensees of a huge range of industry standards data sources which are cross referenced so customers are not limited to just one supplier
17 employees mainly based in Edinburgh
For any further information, please contact:
Maxine Morgan, GB Group
Number: 01244 657333
Emma Coleman, Bite Communications
Number: 020 8834 3485
Lesley Ferguson or Julie Moulsdale, Perceptive Partners Communications
Number: 07762 769 659 or 07734 932 578