When I co-founded CSID 10 years ago, data breaches were a growing concern. According to the Identity Theft Resource Center, there were 157 reported breaches in 2005. In 2015, there were 783 – a 398 percent increase in a ten-year period. We’ve seen a number of high profile breaches dominate media headlines – breaches that resulted in the loss of consumer personally identifiable information (PII), company data, intellectual property and more. And with more businesses storing customer data and more consumers sharing personal information online, we don’t expect these headlines to go away any time soon.
This is why today’s announcement of the sale of CSID to Experian is great news not only for our employees and shareholders but also for businesses and consumers. CSID has been providing technologies and services to help consumers and businesses combat identity theft and fraud for 10 years. Our platform supports approximately 10 million users across the globe. Joining with the power and industry leadership of the Experian brand, we anticipate building stronger and ever more compelling services to help consumers and businesses protect and manage their personal data.
You can read more about the acquisition on Experian’s website and we hope to share more in the coming months on what to expect from CSID’s technology and services offerings, and our work with Experian.