American Express to Sell Accertify to Accel-KKR

By Colin Kellaher

American Express has struck a deal to sell its Accertify fraud-prevention unit to technology-focused private-equity firm Accel-KKR for an undisclosed amount.

Accel-KKR on Tuesday said its investment will enable Accertify to accelerate its growth and product innovation as an independent entity.

Accertify, launched in 2007, provides fraud prevention, chargeback management, account protection and payment gateway solutions. The company counts 40% of the top 100 online retailers among its customers, along with major global airlines and sports-betting platforms, Accel-KKR said.

New York credit-card giant American Express in late 2010 said it agreed to buy Accertify for about $150 million.

Accel-KKR, based in Menlo Park, Calif., backs software and technology businesses and has $19 billion in cumulative capital commitments.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 16, 2024 12:19 ET (17:19 GMT)

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