Tracing firm GB Group has acquired tracing software provider Data Discoveries after experiencing a surge in demand for its services.

The acquisition is aimed at enhancing GB Group’s current offering and equipping it to expand its services in new markets such as national security and fraud investigation.

It follows an increase in demand for tracing services over the last few years, and the Credit Services Association predicts that over £8bn of debt will be traded this year with 70% of all instructions to collect debt involving some form of tracing.

Richard Law, chief executive of GB Group, said: "We have seen our tracing client base increase by over 26%. Data Discoveries’ clients will complement our existing customer base with more than 100 further customer accounts including The Student Loans Company and Co-Operative Financial Services."