Relx today said it has inked a deal to buy US startup Emailage for roughly $480m (£368m) as the publishing and analytics giant looks to boost its fraud prevention capabilities. Emailage, which uses machine learning technology to help clients spot fraud, is one of a number of businesses cashing in on a booming demand for cybersecurity software. Relx did not disclose the value of the deal, which was struck with its Lexis Nexis Risk Solutions division, but a source close to the company said it was roughly $480m. It is the latest in a string of acquisitions for the firm, which last month agreed to buy ID Analytics from Norton Life Lock in a deal worth $375m. Both firms are set to be integrated into Relx's Risk and Business Analytics -- its fastest-growing division.

Emailage, global leader in online fraud prevention and email risk assessment, has teamed up with Featurespace, the world leader in risk detection and fraud prevention, to protect global eCommerce and financial services organizations from the growing threat of online application fraud. Application fraud grew by £29.4m (or 159 per cent) last year, according to UK Finance. Application fraud occurs when criminals use stolen or fake documents to open an account in someone else's name. The main driver of this is a result of data harvesting through various phishing techniques. With this intrusive form of fraud on the rise, businesses need new fraud prevention methods which can analyze the digital identity of the applicant.