BDO has advised the shareholders of PE backed SaaS business Hello Soda on its acquisition by Acuant, the global trusted identity platform for fraud prevention and AML compliance, as part of their continued investment and commitment to innovative technology.
Hello Soda is a Manchester-based global provider of identity verification and KYC solutions, with focus on the European and Asian markets, which was backed by NVM, now part of Mercia Asset Management. Hello Soda’s technology utilises proprietary analytics, matching algorithms and data science modelling to provide configurable and composite scoring, enabling businesses to make trusted decisions from the point of onboarding to enhanced due diligence (EDD) and continuous monitoring. With the company’s deep expertise in eMoney and gaming, and customers including VirginBet, Klarna and Paysafe, the union will bring together powerful technology and data science capabilities that are key to unlocking trust in digital identities.
“The shareholders were impressed by BDO's sector knowledge and felt they would be a great partner for the transaction. The BDO team worked extremely hard to deliver a great result for Hello Soda – both maximising value from the start and then protecting value throughout. I enjoyed working with BDO and looking forward to doing so again.”
Alex Wilson, Mercia Asset Management
"We were delighted to have advised the shareholders on this important transaction. Hello Soda is a stand-out business in an exciting and growing sector, founded in Manchester and with strong international presence. Through this transaction, the business has even more opportunity to increase its international footprint, and has a very exciting future ahead. It is a great story for Northern technology businesses."
Rob McCann, Partner, BDO