A Win for Online Fraud Prevention
Does this customer really live at this address; is this email really associated with them?
These are the types of questions Trustev customers can now answer, according to its CEO, as it was announced this week that TransUnion has acquired Trustev - which it already invests in and partners with. The acquisition closed on Dec. 9 with TransUnion paying approximately $21 million in cash at closing, with agreement to pay up to an additional $23 million contingent on Trustev "achieving specified retention, revenue and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) targets through 2018."
For the unfamiliar, TransUnion's fraud and identity management solutions analyze identity data in order to reduce risk exposure and potential losses while Trustev's technology evaluates online transactions in real-time to stop fraud and authorize legitimate purchases.
“As fraud grows in volume and sophistication, TransUnion continues to invest in building our global capabilities to help companies manage their risk,” said Jim Peck, TransUnion’s president and chief executive officer. “Holistic information is a powerful tool to help our customers approve good transactions and prevent fraud, and Trustev’s innovative capabilities are at the forefront of technology in this increasingly critical field.”