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TransUnion Announces Completion of iovation Acquisition
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TransUnion (TRU - Free Report) announced yesterday that it has completed acquisition of iovation — an authentication and fraud prevention solutions provider based in Portland, OR.
iovation is a big name in the device intelligence space. The company has a large database of reputation insights and cryptographically secure multi-factor authentication methods. It has insights into about 5 billion devices from over 35,000 brands, across more than 50 countries.
iovation’s product suite includes ClearKey password authentication tool, LaunchKey multi-factor authentication, FraudForce real-time device reputation and verification insight and SureScore machine learning based transaction outcomes predictor.
TransUnion’s president and chief executive officer, Jim Peck stated that “The combination of our solutions will create an unmatched network of offline and online identities that will benefit both our business customers, and ultimately, consumers who are transacting with them.”
Notably, in the past year, TransUnion stock has rallied at a faster pace than the industry it belongs to. While the industry rallied 27.3%, the stock gained a massive 68%. So, it appears that investors are rewarding the company’s moves to expand its technology capacity and increase market share.
Strengthening Anti-Fraud and Identity Management Capabilities
A 2017 market research report by Stratistics MRC predicts that global identity and access management market will witness a compounded annual growth rate (CAGR) of 14.8% during the 2016-2022 period, reaching $21 billion in 2022. In view of this significant opportunity offered by the market, we believe that the iovation buyout is a prudent move by TransUnion to strengthen its identity management business and expand globally.
Also, iovation’s customer base and channel partners, including Callcredit, which TransUnion is acquiring in the UK, are expected to help the company boost its presence in gaming and retail markets.
Zacks Rank & Key Picks
Currently, TransUnion has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Business Services sector include Automatic Data Processing, Inc. (ADP - Free Report) , The Dun & Bradstreet Corp. (DNB - Free Report) and FLEETCOR Technologies, Inc. . While Automatic Data Processing and Dun & Bradstreet sport a Zacks Rank #1 (Strong Buy), FLEETCOR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for Automatic Data Processing, Dun & Bradstreet Corporation and FLEETCOR Technologies is 11.3%, 6% and 16.5%, respectively.
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TransUnion Announces Completion of iovation Acquisition
TransUnion (TRU - Free Report) announced yesterday that it has completed acquisition of iovation — an authentication and fraud prevention solutions provider based in Portland, OR.
iovation is a big name in the device intelligence space. The company has a large database of reputation insights and cryptographically secure multi-factor authentication methods. It has insights into about 5 billion devices from over 35,000 brands, across more than 50 countries.
iovation’s product suite includes ClearKey password authentication tool, LaunchKey multi-factor authentication, FraudForce real-time device reputation and verification insight and SureScore machine learning based transaction outcomes predictor.
TransUnion’s president and chief executive officer, Jim Peck stated that “The combination of our solutions will create an unmatched network of offline and online identities that will benefit both our business customers, and ultimately, consumers who are transacting with them.”
Notably, in the past year, TransUnion stock has rallied at a faster pace than the industry it belongs to. While the industry rallied 27.3%, the stock gained a massive 68%. So, it appears that investors are rewarding the company’s moves to expand its technology capacity and increase market share.
Strengthening Anti-Fraud and Identity Management Capabilities
A 2017 market research report by Stratistics MRC predicts that global identity and access management market will witness a compounded annual growth rate (CAGR) of 14.8% during the 2016-2022 period, reaching $21 billion in 2022. In view of this significant opportunity offered by the market, we believe that the iovation buyout is a prudent move by TransUnion to strengthen its identity management business and expand globally.
TransUnion Revenue (TTM)
TransUnion Revenue (TTM) | TransUnion Quote
Also, iovation’s customer base and channel partners, including Callcredit, which TransUnion is acquiring in the UK, are expected to help the company boost its presence in gaming and retail markets.
Zacks Rank & Key Picks
Currently, TransUnion has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Business Services sector include Automatic Data Processing, Inc. (ADP - Free Report) , The Dun & Bradstreet Corp. (DNB - Free Report) and FLEETCOR Technologies, Inc. . While Automatic Data Processing and Dun & Bradstreet sport a Zacks Rank #1 (Strong Buy), FLEETCOR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for Automatic Data Processing, Dun & Bradstreet Corporation and FLEETCOR Technologies is 11.3%, 6% and 16.5%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>