Aimbrain acquired by Israeli rival
Aimbrain has been acquired by Israeli rival BioCatch.
The biometric authentication firm was voted 37th by judges and our readers in our 2019 London Tech 50 rankings.
Its tech uses voice, facial and behaviour recognition to protect businesses from fraud.
The London-based team will now join BioCatch, which is based in Tel Aviv and has a base in the United States. The terms of the deal were undisclosed.
“The fraud detection and authentication industries are rapidly consolidating, and we believe that combining forces with the leading global behavioural biometrics player at this time makes tremendous sense, both for ourselves and our clients,” said AimBrain CEO Andrius Sutas.
“Together, we will be able to pursue broader applications, particularly in the mobile arena which requires deep understanding of fraud behaviors and a way to allow legitimate users to transact unencumbered.
“We are very excited about the possibilities and to be joining the BioCatch team.”
BioCatch owns more than 40 patents and has another 25 pending. AimBrain’s intellectual property will add another 4 patents to its holdings.
The company’s behavioural biometrics platform passively collects over 2,000 parameters of physical and cognitive user interactions across both web and mobile channels.
By analysing these parameters in context, BioCatch extracts powerful online behavioural insights and applies them to various use cases across the digital identity lifecycle.
These use cases include detecting stolen or synthetic identities in account onboarding, authenticating users at login, detecting fraudulent account takeover attempts, and recognising increasingly sophisticated social engineering scams.
Howard Edelstein, Chairman & CEO of BioCatch, said: “This is a very exciting development for us.
“AimBrain’s people, technology and intellectual property will expand our capabilities considerably and help us extend our lead in the market as we aim to continue our rapid growth in 2020 and beyond.”