TransUnion seeks to expand its portfolio of digital identity capabilities, increase market reach and accelerate growth strategy with the proposed acquisition of Neustar, an information services and technology company, for $3.1 billion in cash.
The two parties signed a definitive agreement for the transaction, which covers the addition of Neustar’s data and analytics to TransUnion’s digital identity assets in an effort to enhance customer experience, the global information and insights company said Monday.
One of Neustar’s capability offerings is OneID, an identity resolution technology that is expected to enhance the identity-based products of TransUnion and complement its offerings in the U.S. and global markets.
“The two companies’ complementary businesses, products and relationships will offer benefits for our combined customers, employees and other stakeholders across a diverse set of markets,” said Charlie Gottdiener, president and CEO of Neustar.
Meanwhile, Chris Cartwright, president and CEO of TransUnion, commented that the deal will support the delivery of safer and more personalized customer experiences online.
Neustar will be bought from a Golden Gate Capital-investment group with minority participation by GIC. Upon the closure of the acquisition, the security business of Neustar will become a portfolio company of Golden Gate Capital and GIC as the unit is excluded from the purchase.
The deal is expected to be completed during the fourth quarter of 2021, subject to regulatory approvals and meeting customary closing conditions.