GB Group collects postcode validation firm in £74m deal
Data company PCA Predict has been bought for £73.8m in a deal that sees it become part of stock market-listed GB Group.
The deal will create a £101m-turnover group, with PCA’s unaudited figures showing revenues of £13.7m in the year to February.
PCA Predict, a provider of address validation and data quality services, employs 50 staff at its Worcester headquarters.
Chester-based GB Group said the acquisition was highly complementary to its GBG Matchcode360 and GBG Loqate businesses, would provide scale to “a fundamental component” of GBG’s Identity Data Intelligence proposition.
Chris Clark, GB Group’s chief executive, said: “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.
“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 deal is split between £15.8m cash and £58m in shares, which will be raised by the placing of 17.06m shares. This stake will represent 12.7% of the group’s existing share capital.
