Norkom Technologies acquires risk mangement firm Data4s
17 November 2004 | 5313 views | 0
Dublin-based risk and compliance software vendor Norkom Technologies has signed a definitive agreement to acquire Belgium-based risk management firm Data4s.
Under the acquisition, Data4S will be primarily paid for with new shares from Norkom.
Following the acquisition, Data4s will continue to operate from its Belgium offices and will be rebranded Norkom Europe. Both firms' product sets will continue to be developed and supported and will be fully integrated into one common platform over a 12 to18 month period.
Norkom says the current pace of the risk management market is driving for continued investment and will lead to new staff hires at both its operations.
Paul Kerley, CEO of Norkom Technologies, says the Data4 acquisition will provide a foundation to build a stronger position for Norkom in the continental European market.
"Given the synergies that exist between our two companies - complementary technologies, experienced management teams, market penetration- this is a textbook acquisition, whereby both companies are stronger and more profitable together, rather than operating in isolation," says Kerley.