BALTIMORE--(BUSINESS WIRE)--EZShield, a portfolio company of The Wicks Group ("Wicks") and the leader in digital identity protection and resolution, today announced it has acquired IdentityForce, the #1 rated identity theft protection provider for businesses and consumers. The acquisition expands EZShield’s identity protection ecosystem by nearly 50 percent, providing partners in every industry, businesses of all sizes, and consumers with the most secure capabilities and rapid restoration services. The pervasiveness of cyber fraud incidents and data breaches is estimated to cost $6 trillion annually by 2021.
“IdentityForce is a trusted, top-ranked leader in identity theft protection and their business is comprised of a highly customer-centric team of experts who are committed to combating identity theft,” said Dale Dabbs, President and CEO of EZShield. “Whether it’s EZShield’s focus on exceptional customer service or robust cybersecurity tools, or IdentityForce’s award-winning mobile app and Social Media Identity Monitoring features, our companies bring unique and in-demand capabilities to fraud protection. Together, EZShield and IdentityForce will continue to deliver best-in-class solutions that raise industry standards in digital identity theft protection and cybersecurity.”
IdentityForce was co-founded by siblings Steven Bearak (CEO) and Judy Leary (President) in 2005. Since then, IdentityForce has grown to serve consumers, businesses, and governmental agencies. EZShield was launched in 2001 to help consumers and small businesses defend themselves against financial and payment fraud. Today, EZShield protects U.S. consumers and small businesses against fraud and identity crimes by partnering with enterprises, financial institutions, insurance companies, benefits providers, and warranty companies. Both companies share a powerful commitment to educate and develop identity crime prevention strategies. For example, EZShield sponsors the website, Fighting Identity Crimes, and IdentityForce offers consumers and businesses tips via its consumer and business blogs, monthly protection newsletter, and an annual eBook: Protecting What Matters Most.
“This acquisition unites two best-in-class leaders focused on world-class support with solutions built on integrity, security, and trust,” said Bearak, CEO of IdentityForce. “As cybercrimes increase in number and complexity, our combined expertise and our superior Customer Satisfaction (CSAT) ratings will enable us to provide the greatest digital security measures available. That’s our commitment to our customers.”
“We’re thrilled to bring these two companies together, with the goal of creating a combined identity protection and cybersecurity powerhouse,” said Daniel L. Black, Managing Partner at Wicks. “As we continue to educate businesses and consumers about protecting both their identity and their data, we’re excited about the acceleration plans ahead for EZShield and IdentityForce. This collaboration also makes tremendous financial sense. We expect to evaluate more meaningful acquisitions and organic growth opportunities as this sector undergoes rapid expansion.”
“The threats against identities and data are more significant than ever, and as such, the need for protection has never been greater. IdentityForce and EZShield are leaders in the identity protection space, and their consistently strong performance in Javelin’s ratings is a testament to their deep understanding and appreciation of the threat landscape and the needs of customers,” said Al Pascual, SVP and Head of Fraud & Security at Javelin Strategy & Research.
Dabbs and Bearak provide their perspective regarding the acquisition:
EZShield helps trusted partners protect their most valuable asset – their customer relationships — through secure, digital identity protection and resolution services that enhance the value of existing products. The company is consistently recognized by Javelin as a leader in Identity Protection. Owned by the Wicks Group of Companies, L.L.C., EZShield supports thousands of financial institutions through its award-winning solutions, delivered on a secure, flexible platform that is backed by best-in-class customer support. Follow EZShield on Twitter, become a fan on Facebook, engage with us on LinkedIn, and join us on Google+. Learn more at www.ezshield.com.
For 40 years, IdentityForce, Inc. has provided best-in-class, highly scalable, award-winning identity theft, privacy and credit protection solutions to consumers, businesses, and government agencies. With IdentityForce, members benefit from the most robust and award-winning identity protection, going as deep as Dark Web monitoring to keep personal information safe. A pioneer of identity protection, IdentityForce’s innovation and customer-centric approach has made the company a trusted partner for both organizations and individuals. IdentityForce also provides custom-tailored programs to organizations enabling them to build closer relationships and additional revenue streams. In 2015, the U.S. government awarded IdentityForce elite Tier One status as an approved provider of identity protection services for data breaches affecting over 21.5 million people. Follow IdentityForce on Twitter, become a fan on Facebook, engage with us on LinkedIn, and join us on Google+. Learn more at www.identityforce.com.
About The Wicks Group
The Wicks Group is a private investment firm based in New York City that invests in lower middle market information businesses that create and deliver niche content and services to the business, consumer and education markets. Since its founding in 1989, Wicks has invested over $1 billion of capital in more than 30 platform companies and approximately 100 add-on acquisitions. The firm has applied a consistent investment strategy since its founding, partnering with high-quality, experienced management teams to build businesses organically and through acquisitions. Learn more at www.wicksgroup.com.
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