AMERICAN EXPRESS CO.
$232.50 $1.04 (0.45%)

MENLO PARK, Calif. and ITASCA, Ill., May 2, 2024 /PRNewswire via COMTEX News Network/ -- Strategic Move Positions Accertify for Accelerated Growth and Innovation in Fraud Prevention Space

Accel-KKR, a technology-focused private equity firm, today announced the successful carveout acquisition of Accertify from American Express (NYSE: AXP). As a standalone private company, Accertify will embark on a focused strategy to accelerate growth and product innovation in the globalfraudprotection technology market.

Accertify is a leading provider offraudprevention, chargeback management, account protection, and payment gateway solutions. Accertify's advanced technologies help enterprises around the world prevent fraudulent transactions while helping their risk teams increase operational efficiency and improve overall revenue. Accertify customers include 40% of the Top 100 retailers, major global travel & hospitality companies, and financial service enterprises.

"This is the dawn of a new day for Accertify. With Accel-KKR's deep expertise in growing technology companies and Accertify's market-leading fraud prevention solutions, we are best positioned to deliver greater value to our customers worldwide. We look forward to accelerating our growth as an independent company, and helping our customers and partners succeed," said Mark Michelon, President of Accertify.

With an exponential increase in digital transactions, brands are focused on delivering best-in-class digital experiences while minimizing fraud and risk. Accertify takes a customer-centric approach by incorporating powerful machine learning technology backed by extensive community data to help clients reduce fraud and abuse, protect accounts and minimize chargeback costs.

"As Accertify's partner, Accel-KKR is committed to bringing our firm's full resources, insights and capital to support Accertify's investment strategy and mission to help enterprise customers prevent fraud, reduce costs and ultimately increase revenue. Accertify has built an enviable market position thanks to its robust technology, deep client relationships, and talented team. We are eager to build upon this strong foundation and support Accertify in its next phase of growth and expansion," said Park Durrett, Managing Director at Accel-KKR.

The close of the transaction marks the culmination of a successful partnership between Accertify and American Express, during which Accertify experienced significant growth. American Express and Accertify plan to continue their partnership post close with Accertify remaining a trusted solution provider. Accertify will maintain its headquarters in Itasca, Illinois.

About Accertify

Accertify, Inc., is a leading provider of fraud prevention, chargeback management, and payment gateway solutions to customers spanning diverse industries worldwide. Accertify's suite of products and services help e-commerce companies grow their business by driving down the total cost of fraud, simplifying business processes, and ultimately increasing revenue. To learn more about Accertify, visit www.accertify.com.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR's headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.

Contact:

For Accertify:                 For Accel-KKRNeal Stein                     Todd FogartyTechnology PR Solutions        Kekst CNCP: 1 321 473 7407              P: 1 917 992 1170nealjstein@techprsolutions.com todd.fogarty@kekstcnc.com

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SOURCE Accel-KKR

https://rt.newswire.ca/rt.gifNewsItemId=NY03960&Transmission_Id=202405021000PR_NEWS_USPR_____NY03960&DateId=20240502

COMTEX_451777360/1005/2024-05-02T10:00:48

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