US-based data, analytics and technology company Equifax has inked a definitive agreement to acquire artificial intelligence (AI)-driven fraud prevention and digital identity solutions provider Kount.
Equifax will acquire Kount in a deal valued at $640m.
Post-acquisition, Kount employees will join the Equifax united states information solutions (USIS) team.
Subject to the receipt of regulatory nod, the transaction is expected to complete in the first quarter of this year.
As a result of this acquisition, Equifax will utilise the ‘Kount Identity Trust Global Network’ to expand its global presence in digital identity and fraud prevention solutions for businesses.
Kount’s network uses AI to connect trust and fraud data signals from 32 billion digital interactions, 17 billion devices, and five billion yearly transactions across 200 countries.
Kount’s AI-driven analytic insights become more predictive when it collects more data signals, ultimately helping to prevent digital fraud and account takeovers, in real-time.
The level of trust for each identity behind every payment, account creation, and login event, is determined by Kount’s identity trust network.
These decisions help businesses in delivering safe payments, account creations, and logins while mitigating fraud, chargebacks, false positives, and manual reviews.
Kount’s full suite of products includes ‘Kount Command’ for preventing e-commerce fraud, and ‘Kount Control’ for preventing account takeover.
‘Kount Data on Demand’ offers advanced analytics and actionable customer insights.
Kount also offers ‘Near Real-Time Chargeback’ protection solution, which will be integrated into the ‘Equifax Luminate’ fraud platform.
Kount CEO Bradley Wiskirchen said: “More than 9,000 brands worldwide rely on the Kount Identity Trust Global Network to protect against digital fraud while enabling personalised customer experiences and new e-commerce channels.
“Equifax’s global reach will accelerate Kount’s international adoption, allowing us to help more businesses around the world to better protect their digital innovations and their customers against emerging threats while improving the customer experience.”
Equifax CEO Mark Begor said: “The acquisition of Kount will expand Equifax’s differentiated data assets to bring global businesses the information and solutions they need to establish identity trust online.”
Equifax president of united states information solutions (USIS) Sid Singh said: “Together, Equifax and Kount will leverage a powerful set of differentiated data assets and advanced analytics to deliver a high performance, integrated view of both digitally-native transactions and signals and traditional offline identity fraud risk indicators while maintaining privacy and security at the highest levels.”