Chicago-based credit reporting agency TransUnion this week announced that it’s acquiring identity security solutions provider Sontiq for $638 million.
Sontiq provides identity monitoring, restoration, and response solutions, which will help TransUnion enhance its identity protection offerings.
Sontiq provides its solutions through brands such as IdentityForce, Cyberscout and EZShield. The company’s identity monitoring products have already leveraged credit data from TransUnion, which says Sontiq products are “highly complementary” to its own capabilities.
Nottingham, MD-based Sontiq is expected to generate roughly $85 million of revenue this year, with the combined company expected to provide a “highly profitable” product offering. The transaction is expected to close in the fourth quarter of 2021.
Earlier this year, Sontiq announced acquiring data breach intelligence company Breach Clarity, and Cyberscout, which provides cyber products and services that are tailored for the insurance industry.
“As online commerce rapidly accelerates, TransUnion has calibrated its business to address consumer and customer challenges relating to identity,” said Chris Cartwright, president and CEO of TransUnion. “Augmenting our Consumer Interactive business with Sontiq’s identity and cyber protection services will advance our work to enable consumers and businesses to transact with greater certainty.”
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