Add-on Acquisition • Internet Software and Services

Mitek Acquires HooYu

On March 23, 2022, Mitek acquired internet software and services company HooYu for 98M GBP

Acquisition Context

This is Mitek’s 2nd transaction in the Internet Software and Services sector.
This is Mitek’s largest (disclosed) transaction.
This is Mitek’s 1st transaction in the United Kingdom.

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M&A Deal Summary
Date	March 23, 2022
Target	HooYu
Sector	Internet Software and Services
Buyer(s)	Mitek
Deal Type	Add-on Acquisition
Deal Value	98M GBP
Advisor(s)	GP Bullhound (Financial)

Target Company

HooYu

London, United Kingdom

HooYu is a cloud-based platform for KYC & identity verification. HooYu blends ID document validation, online profile analysis, geo-location, facial biometrics, and identity confidence scoring with traditional database checks and PEPs and sanctions screening. HooYu was founded in 2015 and is based in London, United Kingdom.

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Buyer Overview 1

Buyer

Mitek

San Diego, California, United States

Category	Company
Founded	1986
Sector	Software
Employees	565
Revenue	172M USD (2024)

DESCRIPTION

Mitek is a provider of mobile capture and identity software solutions for customer acquisition. Mitek's patented mobile photo technology automatically captures images of financial and personal documents and then extracts relevant data. Mitek was founded in 1986 and is based in San Diego, California.

Deal Context for Buyer	#
Overall	6 of 6
Sector: Internet Software and Services	2 of 2
Type: Add-on Acquisition	6 of 6
Country: United Kingdom	1 of 1
Year: 2022	1 of 1
Size (of disclosed)	1 of 3

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2021-06-01	ID R&D New York, New York, United States ID R&D is a provider of artificial intelligence (AI)-based voice and face biometrics and liveness detection. ID R&D’s solutions are available for easy integration with mobile, web, messaging, and telephone channels, as well as in smart speakers, set-top boxes, and other IoT devices. ID R&D was founded in 2016 and is based in New York City.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2021-06-01

ID R&D

New York, New York, United States

ID R&D is a provider of artificial intelligence (AI)-based voice and face biometrics and liveness detection. ID R&D’s solutions are available for easy integration with mobile, web, messaging, and telephone channels, as well as in smart speakers, set-top boxes, and other IoT devices. ID R&D was founded in 2016 and is based in New York City.

Buy

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