Accel-KKR acquires Accertify from American Express to enhance fraud protection technology
Accel-KKR, a technology-focused private equity firm, has successfully completed the carveout acquisition of Accertify from American Express (NYSE: AXP). This strategic acquisition positions Accertify to operate as a standalone private entity, focusing on accelerating growth and innovation in the global fraud protection technology market.
Enhancing Fraud Prevention and Security Services
Accertify is a leading provider in fraud prevention, offering solutions that include chargeback management, account protection, and payment gateway services. With technologies that are pivotal in helping enterprises globally to combat fraudulent activities, Accertify supports significant clients including 40% of the Top 100 retailers and major entities in the global travel, hospitality, and financial services sectors.
New Growth Horizons for Accertify
Under the new ownership, Accertify is set to expand its technological capabilities and market reach. Mark Michelon, President of Accertify, expressed enthusiasm about the new phase, stating, “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.”
Accel-KKR acquires Accertify from American Express, enhancing fraud protection capabilities and positioning the company for accelerated growth in digital security.
Strategic Support from Accel-KKR
Accel-KKR aims to enhance Accertify’s standing in the market by leveraging its resources, insights, and capital to foster growth and expand services. Park Durrett, Managing Director at Accel-KKR, affirmed their commitment to supporting Accertify’s investment strategy and mission, emphasizing the goal to help enterprise customers mitigate fraud, reduce costs, and increase revenue.
Ongoing Partnership with American Express
Despite the sale, Accertify will continue its partnership with American Express, remaining a trusted solution provider. This ongoing relationship underscores the value and effectiveness of Accertify’s solutions in the marketplace.
This acquisition marks a pivotal moment in the cybersecurity and fraud prevention landscape, with Accertify set to embark on a dynamic growth trajectory under the guidance of Accel-KKR.