(LONDON) Katten Muchin Rosenman UK LLP announced today that it represented certain selling shareholders of Ekata, Inc., a leading provider of identity verification services that help businesses make more informed decisions during online account opening, payments and a variety of other digital interactions, in connection with Mastercard's acquisition of Ekata. The US$850 million deal closed 9 June.
Ekata's identity verification data, machine learning technology and global experience adds to Mastercard's fraud prevention and digital identity programs. The combined services will help businesses confidently know who their customers are and, in turn, help those customers safely interact online, while continuing to ensure trust and the responsible use of data.
The strategic acquisition will advance identity verification efforts to help merchants combat fraud while seamlessly ensuring privacy, control and security for customers who are making online transactions in today's digital commerce space. The integrated capabilities of Ekata and Mastercard will also deliver a more comprehensive identity service that can power real-time decision-making needs, from new account openings to helping merchants assess potential fraud before a payment transaction is authorised.
"We were delighted to assist with a transaction that brings the Ekata and Mastercard teams together so that they can further advance Ekata's solutions to help businesses prevent cyber fraud," said Katten partner Edward A. Tran, who led the firm's deal team. "It was a pleasure to help deliver a successful exit for the shareholders of Ekata."
The Katten team was led by London partner Edward A. Tran and also involved Chicago Financial Markets and Funds associate Timothy D. Kertland and London Corporate associates David Wood and Alex Taylor.
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