GCA advises IDIQ on its majority sale to Corsair Capital
IDIQ provides credit reporting, identity theft and dark web monitoring, identity restoration and related family protection services in the rapidly evolving $20 billion consumer identity monitoring market. Through its industry-leading IdentityIQ®, MyScoreIQ® and DataBreachIQ® brands, IDIQ helps protect consumers from the increasing threat of identity theft and fraud, particularly as consumers continue to shift their financial and retail habits to digital, as well as provides planning and response support for businesses in the event of a data breach.
As IDIQ’s strategic and financial partner, Corsair will leverage its deep fintech expertise to accelerate continued profitable growth and support the company as it grows its customer base and product breadth through its unique partnership-driven model. Scott Hermann, Chief Executive Officer of IDIQ, will continue to lead the company and remains IDIQ’s second largest owner.
“IDIQ’s innovative solutions address the critical need for credit, identity and cybersecurity protection, which the global pandemic has demonstrated to us is more important than ever, and IDIQ has achieved tremendous success growing its tech-enabled product offering,” said Jeremy Schein, partner at Corsair Capital. “We are excited to partner with Scott and the rest of the talented IDIQ team to support its next phase of growth. Data and security is a key area of focus at Corsair, and we believe our significant experience investing in and partnering with financial technology companies make IDIQ an ideal fit for our growing portfolio.”
“We’re thrilled to enter this next chapter with a trusted long-term, strategic and growth-focused partner like Corsair,” Hermann said. “With Corsair’s proven sector expertise, significant resources and relationship-driven approach, we are confident we will be able to accelerate the growth of our business, further enhance our solutions and provide crucial protection and peace of mind to even more Americans. I’m proud of our team for the work we’ve done over the past several months to get us to this milestone – especially as our customers continue to rely on our critical services more and more.”