Relx today said it had agreed to buy ID Analytics from Norton Life Lock (NLL) for $375m (£288m).
ID Analytics will become part of Lexis Nexis Risk Solutions, part of Relx’s risk and business analytics arm and its fastest-growing division.
Founded in 2002, San-Diego based ID Analytics provides credit and fraud risk solutions for enterprises with patented analytics.
Rick Trainor, chief executive of Lexis Nexis Risk Solutions, said “Combined with our strengths of verifying and authenticating physical and digital identities, our customers will benefit from an even more comprehensive approach to detecting and preventing fraud and managing risk.”
Over the last 10 years, Relx has cut print sales from 50 per cent to just 10 per cent of its revenue, with the vast majority of its turnover now derived from digital. The information and analytics company has a market capitalisation of £37.8bn and accounts for approximately 40 per cent of the total UK media sector.
Organic growth has been Relx’s primary strategy but supplements it with acquisitions of targeted data sets and analytics. The acquisition of ID Analytics is Relx’s third largest in a decade and the sixth business it has bought in California since 2015.
In July 2019, the information provider bought Parity, a Californian company that uses artificial intelligence to provide scientific and medical content.
Relx’s share price rose 0.75 per cent to 1,946p today