RELX's LexisNexis To Acquire IDVerse, Aims To Expand AI Document Authentication, Fraud Detection

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(RTTNews) - LexisNexis Risk Solutions, the global data and analytics unit of RELX Plc (REL.L, RLXXF.PK, RELX), Tuesday announced that it has entered into an agreement to acquire IDVerse, a provider of AI-powered automated document authentication and fraud detection solutions.

The closing of the transaction is expected in early 2025 for terms undisclosed.

IDVerse, an Australian company established in 2018, leverages AI to prevent fraud and detect deepfakes. The system also identifies fraudulent attempts and supports the verification of more than 16,000 types of ID documents globally for both private and public sector organizations.

The acquisition aims to strengthen LexisNexis' offerings in risk management and fraud prevention while improving digital identity verification and onboarding processes with IDVerse's AI-driven technology.

Rick Trainor, CEO of Business Services for LexisNexis Risk Solutions, said, "Integrating IDVerse's advanced and complementary technology will further enhance our ability to provide the risk insights our clients need to defend against bad actors today and into the future - regardless of where our clients are in the world or where they do business."