Chester-based identity data intelligence firm GB Group plc has announced it will acquire PCA Predict in a landmark £73.8m deal.
An agreement to purchase the validation and data quality services provider will be part-funded by a major share placing to raise up to £58m.
The rest, £15.8m, will be in cash.
GBG described the business as “highly complementary” and said it will operate alongside similar services GBG Matchcode360 and GBG Loqate.
Chris Clark, chief executive of GBG, said: “I am delighted to announce the acquisition of PCA Predict.
“Bringing together PCA Predict’s easy-to-deploy SaaS platform with our existing in depth GBG identity data intelligence data sets creates a leader in address data intelligence.”
He added: “There is a strong strategic and cultural fit in combining the capabilities of PCA Predict and GBG which will bring significant benefit to our customers.
“The board and I are looking forward to the future success of GBG and PCA Predict.”
GBG plans to place 17.1 million ordinary shares at 340p each to raise the £58m.
If all shares are issued, they will represent approximately 12.7 per cent of the company’s existing share capital.
Postcode Anywhere (Holdings), which trades as PCA Predict and uses data to predict customers’ online behaviour.
In the 12 months to March 31 2017, it achieved an EBITDA of £18.5m against revenues of £87.3m.
The company’s SaaS solution is today used by more than 9,000 SME customers.