Nasdaq OMX to buy GRC specialist BWise
03 May 2012 | 5658 views | 0
Nasdaq OMX Group has agreed to acquire BWise, an enterprise governance, risk management and compliance (GRC) software vendor. Financial terms of the deal were not disclosed.
Founded in 1994, New York-headquartered BWise offers firms a software platform designed to cover all their GRC needs, ensuring compliance with regulations such as Sarbanes-Oxley, PCI, Solvency II, Basel and Dodd-Frank.
The platform will now be made available through Nasdaq OMX Corporate Solutions, the exchange operator's software technology business, helping companies track, measure and manage organisational risks, says the firm.
Additionally, BWise's case management, workflow management, reporting, and dashboard capabilities complement Smarts, the surveillance and compliance monitoring platform for brokers, exchanges and regulators Nasdaq OMX acquired in 2010.
Bruce Aust, EVP, Nasdaq OMX, says: "With increasing regulations and, subsequently, greater exposure to risk, GRC is seen as a key indicator of business performance and stability. At Nasdaq OMX, we continue to be motivated by a strong desire to help our companies be more transparent, strategic and efficient."