Life insurance and pensions giant Aegon has snapped up shares in ID verification specialist GB Group.
The Dutch group has acquired a 5% stake in the Chester-headquartered company.
Aegon is headquartered in The Hague and can trace its roots back to 1844.
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The move comes after analysts rued a "missed opportunity" for GB Group (GBG) and said another takeover bid "should not be ruled out".
Experts at Panmure Gordon have also said GBG's growth has "continued to disappoint" during the second half of its financial year but that things should pick up in the future.
Takeover talks between the Chester company and a Chicago-based private equity firm ended in October last year.
GBG employs around 1,200 people and works with the likes of Volvo, HSBC, eBay, John Lewis, ASOS, Lego, Santander and IBM.
In its half-year accounts, which were released in November, the group also hailed the "excellent strategic progress" it made during the first half of its financial year despite its profits being wiped out.
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