CHICAGO–TransUnion said it has signed a definitive agreement to acquire Sontiq, a provider of digital identity protection and security, for $638 million.
“Sontiq’s focus on identity security complements TransUnion’s digital identity assets and solutions, and the combined company will offer a comprehensive set of omnichannel solutions to make trust possible for consumers and businesses,” TransUnion stated.
Headquartered in Nottingham, Md., Sontiq is expected to generate approximately $85 million of revenue in 2021, and grow double-digits in the future driven by “significant revenue synergies,” the company added.
“As online commerce rapidly accelerates, TransUnion has calibrated its business to address consumer and customer challenges relating to identity,” said Chris Cartwright, president and CEO of TransUnion. “Augmenting our Consumer Interactive business with Sontiq’s identity and cyber protection services will advance our work to enable consumers and businesses to transact with greater certainty.”
TransUnion earlier acquired TLO, iovation, TruOptik and others that the company said when combined with its historic strengths as a credit bureau, have built a strong foundation, enabling the company to resolve identity across a wide range of use cases.
According to the company, Sontiq’s Intelligent Identity Security platform serves as the foundation of its identity theft and cyber threat protection solutions for consumers. Sontiq delivers these solutions directly to consumers and through partners and customers as well via its product brands: IdentityForce, Cyberscout and EZShield.