Edentify Completes Acquisition of Zelcom Group
BETHLEHEM, Pa. & SCHAUMBURG, Ill. - Edentify completed the acquisition of Zelcom Group, a privately-held provider of data analytics solutions. Zelcom will operate as a wholly owned subsidiary of Edentify. Financial terms of the deal were not disclosed.
The acquisition adds Zelcom's data analysis service to Edentify's portfolio of identity theft and fraud prevention products, IDAssess, IDScreen, and IDAlert. The acquisition also enables Edentify to target Zelcom's customers, which includes mortgage firms such as Aegis Mortgage of Houston, TX.
Zelcom develops customizable data analysis technology to give mortgage firms, banks, and other financial institutions insight into their marketing effectiveness, operational performance, and customer preferences. The company uses a range of statistical analysis techniques to scrutinize clients' marketing, sales, and customer data. The analysis results show clients where they're spending their capital, and where and how they should spend it for maximum profitability. Zelcom is headquartered in Schaumburg, Ill., with affiliates in Chennai, India, and Toronto, Canada.
In addition to providing analytical support for Edentify, Zelcom will continue to pursue goals outlined in its business plan, including increasing its global presence and adding revenue opportunities to advise both companies' clients on all areas related to identity management. Zelcom's current management will stay in place, and the company will continue operations from Schaumburg, Ill.