Yorkshire-based SmartSearch has agreed to acquire Credas Technologies Ltd, a provider of identity verification solutions primarily focused on the legal and property sectors.

The strategic acquisition, which is subject to regulatory approval, will enhance SmartSearch's standing as a major UK platform for digital Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. By integrating Credas's technology, SmartSearch plans to expand its product offerings and market reach, providing greater flexibility to clients across various regulated industries.

Credas currently supports more than 1,000 legal and property clients, helping to streamline their onboarding processes. This move builds on SmartSearch’s existing client base of over 7,500 and a reported 31% year-on-year growth since 2013. The acquisition follows significant private equity investment from Triple Private Equity in 2024.

Commenting on the deal, Phil Cotter, CEO of SmartSearch, said: “Regulated firms are under pressure to meet rising KYC and AML demands while delivering seamless onboarding. By joining forces with Credas, we combine our strengths to deliver unmatched innovation and service. Our clients will see immediate benefits as we continue to set the standard for digital compliance.”

Tim Barnett, CEO of Credas, added: “With financial crime on the rise and fraud tactics evolving, digital identity verification is more critical than ever. Partnering with SmartSearch empowers us to help even more businesses protect themselves and focus on delivering quality service.”

Ben Shepherd, Head of Value Creation & Founding Partner of Triple Private Equity and Chairman of SmartSearch, commented on the firm's belief in the company: “The acquisition of Credas reflects SmartSearch’s continued upward trajectory in the market for digital compliance solutions. In 2024, Triple was impressed by the organisation’s consistent growth and customer-centric approach, together with its high-quality technology platform. This news confirms that our confidence was well founded; we have no doubt that SmartSearch, with the addition of Credas will continue to trailblaze in this fast-moving market.”

The combined expertise is expected to drive innovation and support continued growth in a market facing increasing regulatory scrutiny, particularly for sectors like law and real estate, where compliance with anti-financial crime regulations is paramount.