GB Group sells marketing services division to HH Interactive
Identity data intelligence company GB Group has sold its marketing services division to HH Interactive, a subsidiary of HH Global Group, it announced on Thursday.
The AIM-traded firm said the sale supported its strategic focus on its core capabilities in location intelligence, identity verification and fraud prevention.
As a consequence of that strategic focus, revenues from marketing services had declined in recent years, and in the 2020 financial year accounted for about 2% of group revenues.
The company said HH Interactive provides a “comprehensive suite” of marketing services, with the transaction set to allow GBG’s customers to benefit from a broader range of technology and services now required by marketing departments.
“We are pleased to have found a very capable new owner for our marketing services team and customers,” said chief executive officer Chris Clark.
“HH Interactive has the capability to provide a rich set of marketing-related services and can respond more completely to the increasing needs of our marketing services customers.”
At 1143 GMT, shares in GB Group were down 1.81% at 851.3p.