PCA Predict goes for £74m
If you’ve ever spoken to anyone in a call centre or input your postcode to find your delivery address when buying stuff online, you’ve probably come across PCA Predict without even realising it.
The Worcester-headquartered company has created its own bespoke technology which garners information from the internet to provide data as a service to over 11,000 companies across the globe.
The company was setup by entrepreneurs Guy Mucklow and Jamie Turner back in 2001 and was originally called Postcode Anywhere. Today, they have exited the business after agreeing a deal to sell it for £74m to identity data intelligence specialist GBG.
GBG, which is headquartered in Chester, prides itself on helping businesses make smarter business decisions through fraud risk and compliance, employee screening and customer location intelligence.
The acquisition of PCA Predict, which has offices in Worcester, New York and Berlin, will provide GBG with an opportunity to position itself as a leader of UK and international address validation and data quality services, which is a fundamental component of GBG's identity data intelligence proposition.
Chris Clark, CEO of GBG, said: "I am delighted to announce the acquisition of PCA Predict. Bringing together PCA Predict's easy to deploy SaaS platform with our existing in depth GBG Identity Data Intelligence data sets creates a leader in Address Data Intelligence.
“There is a strong strategic and cultural fit in combining the capabilities of PCA Predict and GBG which will bring significant benefit to our customers. The board and I are looking forward to the future success of GBG and PCA Predict."
The deal is being advised by Peel Hunt, which is acting as the nominated adviser and broker to GB Group and is the sole bookrunner to the placing.
In an exclusive interview with BQ back in March, Guy explained what inspired the duo to launch PCA Predict, what challenges they had to overcome and why it has proven such a hit.
Published: 09 May 2017