London-headquartered 192business provides online identity verification services to minimise fraud and risk.

The purchase is set to form part of Experian’s Decision Analytics business line, and will be funded using the FTSE 100 company’s existing cash resources.

The buy is part of addressing a growth in the identity verification market which is driven by increasing regulation, a rise in fraud globally and a move from traditional offline identity checks to online checks, Experian says.

According to a statement 192business provides for clients in the e-commerce, insurance, utilities, finance and legal services sectors.

For the year to date 31 March 2011, 192business reported revenues of £7million. The company is to be acquired from its founding shareholder, senior employees and private investors.

The deal is the fifth acquisition made by Experian during 2011.

In January it bought out social media tools business Techlightenment and followed it up with the purchase of Latin American credit services company Computec.

In more recent deal activity Experian purchased Medical Present value, a business which provides analytics software, in June and credit information company LM Group in July.