Cashing In On Identity: First Advantage Acquires Infinite ID To Expand US Footprint
Portfolio Pulse from Shivani Kumaresan
First Advantage Corp (NASDAQ:FA) has acquired Infinite ID, a U.S.-based digital identity authentication solutions company, for $41 million in cash. The acquisition is expected to expand First Advantage's network and portfolio of identity solutions in the U.S. Infinite ID is profitable and is expected to generate annual revenues of over $10 million.
September 05, 2023 | 3:31 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
First Advantage's acquisition of Infinite ID for $41 million is expected to expand its network and portfolio in the U.S. The acquisition is funded by cash and Infinite ID is expected to generate over $10 million in annual revenues.
The acquisition of Infinite ID by First Advantage is a strategic move to expand its network and portfolio in the U.S. This is likely to strengthen First Advantage's position in the market and potentially increase its revenues, given that Infinite ID is profitable and expected to generate over $10 million in annual revenues. This could have a positive impact on First Advantage's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100