GBG expands global reach with Loqate acquisition

Loqate, founded in 2009 and headquartered in San Mateo, California, was recently named the sixth fastest-growing private company in Silicon Valley[2]. Its services allow clients to make more informed use of location information, specifically for Geolocation Information Systems, mapping and Location Based Services. Key applications include data quality management, direct marketing, fraud detection, online payment processing and transaction monitoring. Loqate’s solutions are truly global, covering more than 240 countries around the world – every populated world territory.

Loqate focuses on providing unparalleled levels of customer support and clients include Fortune 1000 corporations who have a requirement to manage location data from multiple countries. Additionally, Loqate has relationships with some of the world’s largest software vendors, including IBM, Oracle, Pitney Bowes and Software AG, enabling them to significantly enhance the functionality and capability of their own product offerings.

The purchase will enable GBG to bring together all the data that sits behind its address and identity verification solutions into one common global platform – making for a seamless integration of registration, on-boarding and identity checking processes. It will also further support GBG’s expansion by allowing access to the North American market through Loqate’s significant partnerships with some of the world’s largest software companies.

GBG and Loqate comments

• Richard Law, CEO at GBG: “As an investor in Loqate over the last four years we have seen the business grow quickly and establish first-class reseller relationships with blue-chip partners. Our expectation is that the business will continue to grow and that the customer base will provide further opportunities for the cross-sell of GBG products and services. The acquisition also gives GBG a strategic footprint in Silicon Valley from which to market and sell our growing portfolio of products and services into mainland USA and Canada.”
• Martin Turvey, CEO at Loqate: “Our acquisition by GBG allows us to extend the positive relationship we already enjoy and to offer an exciting new range of identity-based products and services to our existing customers, as well as to new international markets. We believe that this will secure a future place for our location intelligence products within a truly global suite of identity-related services.”

[1] The consideration will consist of cash on completion of US$13.4 million with a further maximum US$2.0 million payable contingent on a revenue growth target for the 12 month period ending 31 December 2015.
[2] The Silicon Valley Business Journal named Loqate the sixth fastest-growing private company in Silicon Valley 21 October 2014.