SmartSearch has agreed to acquire identity verification solutions provider, Credas Technologies.
The digital compliance solutions provider said the takeover would enhance its position as a know your customer (KYC) and anti-money laundering (AML) compliance platform.
SmartSearch stated that by integrating Credas’ technology, it would be able to expand its product offering to deliver greater flexibility to clients across regulated industries. It added that the combination will drive innovation, enhance customer experience and support continued growth.
The acquisition follows investment in SmartSearch by Triple Private Equity last year, which was designed to help build on the firm's expansion plans.
Chairman at SmartSearch, and head of value creation and founding partner of Triple Private Equity, Ben Shepherd, said: "The acquisition of Credas reflects SmartSearch’s continued upward trajectory in the market for digital compliance solutions.
"In 2024, Triple was impressed by the organisation’s consistent growth and customer-centric approach, together with its high-quality technology platform.
"Today’s news confirms that our confidence was well founded; we have no doubt that SmartSearch, with the addition of Credas will continue to trailblaze in this fast-moving market."
Chief executive officer at Credas, Tim Barnett, added: "With financial crime on the rise and fraud tactics evolving, digital identity verification is more critical than ever. Partnering with SmartSearch empowers us to help even more businesses protect themselves and focus on delivering quality service."
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