London Stock Exchange Group (LSEG) has agreed to acquire Global Data Consortium Inc (GDC) as it expands its global range of KYC and digital identity solutions.

GDC is a global provider of identity verification data to support clients with Know Your Customer (KYC) requirements.

The UK-headquartered company was founded in 2012, and provides global name and address matching capabilities that enable the company to accurately source and enhance data from over 300 data sources globally and to deliver data in near real-time for over 70 countries.

GDC’s services are currently used within the LSEG Customer and Third-Party Risk business, to provide global digital identity verification to customers.

Following completion of the transaction, GDC will be part of LSEG’s data & analytics division.
The deal comes after Refinitiv acquired a 11 per cent stake in GDC in 2020.

The terms of the GDC Transaction have not been disclosed.

The Transaction is expected to close in H1 2022, subject to regulatory approvals.

Andrea Remyn Stone, group head, of data & analytics at LSEG, said: “Adding GDC to the suite of digital identity solutions within our Data & Analytics division, will enable us to continue to expand our capabilities in this high growth segment, through both direct sales and channel partnerships. I look forward to working with the team at GDC to deliver on our promise of being the platform of choice to manage financial crime related risks.”

Bill Spruill, founder and president of GDC, said: “I’m thrilled that GDC is joining the LSEG family. Building on the previous partnership followed by the investment, with the Customer and Third-Party Risk business, LSEG always felt like a natural fit for GDC.

"The opportunity to accelerate our global growth, leveraging the breadth and scale of LSEG, presents a compelling opportunity for our team to better serve our global customers delivering innovative new solutions for the market.”

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