Relx splashes out $480m on fraud prevention firm Emailage
Relx today said it has inked a deal to buy US startup Emailage for roughly $480m (£368m) as the publishing and analytics giant looks to boost its fraud prevention capabilities.
Emailage, which uses machine learning technology to help clients spot fraud, is one of a number of businesses cashing in on a booming demand for cybersecurity software.
Relx did not disclose the value of the deal, which was struck with its Lexis Nexis Risk Solutions division, but a source close to the company said it was roughly $480m.
It is the latest in a string of acquisitions for the firm, which last month agreed to buy ID Analytics from Norton Life Lock in a deal worth $375m. Both firms are set to be integrated into Relx’s Risk and Business Analytics — its fastest-growing division.
Relx, which also runs exhibitions such as Comic Con, began as a traditional publisher but has refocused its efforts on business information and data analytics in recent years.
Over the last decade the company has cut print sales from 50 per cent to just 10 per cent of its revenue, with the vast majority of its revenue now derived from digital.
The firm has a market capitalisation of almost £40bn, making it one of the UK’s 15 largest listed companies.
“Emailage’s broad email and digital data attributes network, inquiry data and confirmed fraud feedback complement our deep expertise in contributory data management and linking technology,” said Rick Trainor, chief executive of Lexis Nexis Risk Solutions.
“This strategic acquisition will expand our digital identity intelligence and fraud prevention services, providing our customers an even more comprehensive view into consumers for more predictive risk assessment.”
The acquisition is expected to complete in the first quarter of 2020.