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James Cowper Kreston’s Corporate Finance team provides transaction support to Mitek Systems, Inc on their £98 million acquisition of UK-based HooYu

5 April 2022

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NASDAQ listed and global leader in digital identify verification and fraud prevention, Mitek has acquired the UK based HooYu in a £98 million deal.

HooYu provides UI and UX tools to deliver customised mobile or desktop digital journeys, helping to increase the integrity of KYC processes and maximise the percentage of customers that can be successfully onboarded.

This acquisition will help organisations gain a more unified picture of the consumer by marrying biometrics, ID document validation, geolocation and identity confidence scoring with real-time data signals.

The Corporate Finance team at James Cowper Kreston provided financial and tax due diligence to Mitek for the acquisition.

Brad McAvoy, Corporate Finance Partner at James Cowper Kreston said “It was a pleasure working with the Mitek team on the acquisition.  The combined technologies of Mitek and HooYu will enhance Mitek’s global position in the identity management market.”