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ID Analytics sold to LifeLock


 
  
The deal diversifies the customer base of both companies. ID Analytics sells fraud-detection software mostly to big businesses, while LifeLock focuses primarily on consumers.


Date:

ID analytics San Diego's ID Analytics, which uses weighty mathematical formulas to make sure credit applicants are who they say they are, has been acquired by LifeLock of Tempe, Ariz., for an undisclosed price.

The deal diversifies the customer base of both companies. ID Analytics sells its sophisticated pattern matching software mostly to big businesses, while LifeLock focuses primarily on consumers.

LifeLock LifeLock -- perhaps best known for divulging founder Todd Davis' social security number in ads -- raised more than $100 million in new preferred venture capital to complete the transaction.

Both companies are privately held. They generated combined revenue in excess of $200 million in 2011, Davis said.

"By combining ID Analytics' enterprise solutions and proprietary data capabilities with LifeLock's brand leadership and consumer expertise, we see a company poised for significant long-term growth," he said.

Founded a decade ago, ID Analytics' algorithms warn banks, telecommunications firms and consumer products companies of potential identity fraud in credit applications. It has about 280 customers, Davis said.

Read more.

See also LifeLock Strengthens Market Position Through Acquisition of ID Analytics.


KDnuggets Home » News » 2012 » Mar » News Briefs » ID Analytics sold to LifeLock  ( < Prev | 12:n07 | Next > )