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Wired News - TransUnion to Acquire Device-Based Fraud and Identity Management Company, iovation

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LONDON, UK / ACCESSWIRE / May 22, 2018 / If you want access to our free research report on TransUnion (NYSE: TRU), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TRU as the Company's latest news hit the wire. On May 18, 2018, the Company announced that it plans to acquire Portland, Oregon-based iovation. iovation is a fraud and identity management Company and one of the most advanced providers of device-based information in the world. The deal is expected to strengthen TransUnion's leadership position in the area of fraud and identity management. Register today and get access to over 1,000 Free Research Reports by joining our site below:


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The financial terms and other conditions of the deal were not disclosed. The deal is expected to close in late Q2 2018 or early Q3 2018, subject to the receipt of regulatory approvals and other closing conditions.

Management Quotes

Commenting on the acquisition of iovation, Jim Peck, President and Chief Executive Officer (CEO) of TransUnion, said:

"TransUnion has long been at the forefront of developing innovative fraud and identity solutions, and together with iovation, we will create an unmatched network of offline and online identities that will help make transactions faster and more secure, while providing a frictionless experience for consumers."

Chris Cartwright, President of TransUnion's USIS division, added:

"Our combined solutions will empower trusted relationships by identifying, monitoring, and protecting both businesses and consumers as they interact online all around the world."

Greg Pierson, Founder, and CEO of iovation, stated:

"Our mission has always been to make the digital world a safer place for both businesses and consumers, which perfectly supports TransUnion's belief in using information for good."

About iovation

Founded in 2004, iovation is the pioneer in the field of device-based fraud fighting solutions. It has the world's largest and most precise database of reputation insights, and cryptographically secure multi-factor authentication methods, and safeguards tens of millions of digital transactions each day. The Company has insight into nearly 5 billion unique devices from more than 35,000 leading brands, across more than 50 countries.

iovation's leading fraud-fighting technology can dynamically identify new fraud patterns as they emerge, making the internet a safer place to do business. The Company's comprehensive range of highly-advanced real-time fraud prevention products includes the below products, which are backed by a risk-based dynamic authentication suite, and a global consortium of shared fraud insights that deliver risk decisions in milliseconds.

  • FraudForce - Real-time device reputation and verification insight identifies good customers, reduces reviews, and helps prevent online fraud;
  • SureScore - Machine learning that predicts transaction outcomes based on device trust, transaction, and contextual or behavioral indicators;
  • ClearKey - Passwordless authentication based on rigorous device fingerprinting and contextual insight;
  • LaunchKey - Multi-factor authentication lets mobile apps deliver advanced knowledge factors, cutting-edge biometrics, and location and proximity methods for strong, simplified access to any site or service.

Benefits of the Acquisition

TransUnion expects that the acquisition of iovation would be highly beneficial to its fraud and identity management business. The customers will benefit greatly from the combined fraud fighting solutions offered by both Companies as they can quickly incorporate and adapt strategies according to the fast-changing and evolving fraud landscape. The Company will also expand its customer base and global footprint.

The acquisition of iovation will also complement the products and business of Callcredit. TransUnion announced the acquisition of UK-based Callcredit Information Group Ltd in April 2018, in an all-cash deal valued at £1 billion (approximately $1.4 billion). Callcredit is a consumer information services Company that provides data, analytics, and technology solutions. TransUnion currently provides fraud and identity solutions to customers globally in the financial services, government, healthcare, and insurance sectors. These acquisitions will expand its reach to include markets like gaming and retail.

TransUnion to acquire Healthcare Payment Specialists

In a separate announcement on the same day, i.e. May 18, 2018, TransUnion disclosed the signing of an agreement to acquire Healthcare Payment Specialists ("HPS"), which is a leader in helping healthcare providers optimize Medicare reimbursement. The acquisition is aimed at strengthening TransUnion Healthcare's Revenue Protection™ portfolio. TransUnion Healthcare is a wholly-owned subsidiary of TransUnion and a provider of Healthcare Revenue Protection™ for maximizing reimbursement, improving patient engagement, and preventing revenue leakage. The financial terms and other conditions of the deal were not disclosed. The deal is expected to close in Q2 2018, subject to the receipt of regulatory approvals.

About TransUnion

Chicago, Illinois-based TransUnion is more than just a credit reporting agency. It is a sophisticated, global risk information provider that goes beyond credit data to offer the insights businesses and consumers need to make informed decisions and achieve great things. The Company has a worldwide presence in over 30 countries, including North America, Africa, Latin America, and Asia.

Stock Performance Snapshot

May 21, 2018 - At Monday's closing bell, TransUnion's stock slightly climbed 0.23%, ending the trading session at $68.96.

Volume traded for the day: 1.17 million shares.

Stock performance in the last month – up 3.17%; previous three-month period – up 18.43%; past twelve-month period – up 64.58%; and year-to-date - up 25.47%

After yesterday's close, TransUnion's market cap was at $12.71 billion.

Price to Earnings (P/E) ratio was at 44.52.

The stock has a dividend yield of 0.44%.

The stock is part of the Services sector, categorized under the Business Services industry. This sector was up 0.7% at the end of the session.


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