Quadrant today announces that it has acquired venture capital backed Ecensity Corporation, based in New York, USA. Quadrant says Ecensity's EPS (Enterprise Presentation Server) will be integrated with their B<sup>2</sup> Risk and Compliance Suite to provide a comprehensive compliance solution for Financial Institutions around the world.
Paul Lockyear, founder of Quadrant and COO says, "Quadrant's established risk consultancy expertise and its B2 compliance solution, an integrated data repository and compliance engine, are now further strengthened by Ecensity's dashboard and risk management cockpits.
This combination will enable clients around the world to comply with the 3 pillars of Basel II and other regulatory requirements including Solvency II, MiFID, Anti-money Laundering, SOX and IAS. B2 will provide firms with a single cohesive solution actively to manage their regulatory capital, operational, credit and market risks." He continues by saying that the acquisition will increase Quadrant's scale and reach, anticipating that this is the first step in their transition to becoming a global player in the risk and compliance market.
Quadrant has appointed Sam Bengio, a founder of Ecensity, as CEO. He brings an increased technology focus together with business development capability to Quadrant. Bengio says, "The combination of our risk management capability and advanced Service Oriented Architecture (SOA) based technology will enable us to integrate easily with existing client systems and to implement our compliance solutions more rapidly. At the same time our approach will provide our clients with greater business agility and the capability to manage risk effectively in a changing regulatory environment, while future-proofing their investment."
The merged company will be known as Quadrant Risk Management (International) Ltd. Corporate headquarters will be in the UK with offices in London, Plymouth, New York and Paris. The existing investors in Ecensity, namely Dassault Dévelopment, XAnge Capital and StoneFund N.V. will invest a further $2.1 million working capital in the merged enterprise.
Quadrant will continue to provide risk based consultancy services to the financial sector globally, both independently and in support of B2 and SAB2 (their implementation of the standardised approach to Basel II) projects. In addition Quadrant will provide Ecensity's technology to application providers and system integrators as a stand-alone software product. This will facilitate the generation of composite views for web applications and extend the Service Oriented Architecture (SOA) to the presentation layer, enabling organisations to provide extremely agile solutions with visually appealing user interfaces.
Quadrant says their enhanced B2offering provides the ideal platform to meet the needs for integrated risk and compliance solutions globally and that their timing is right for significance growth.