Hitec Laboratories Ltd, a leading supplier of Risk and Performance, Workflow, Compliance and Electronic Document Management and Delivery Solutions has today announced the acquisition of the business of PolicyMatter Ltd.
The move establishes Hitec as the clear leader in the software market for Policy & Procedures Lifecycle Management, which until now had been fragmented. With more organisations facing increased legislation requiring communication to and acceptance by employees, the market for Policy Lifecycle Management solutions is expected to substantially increase over the coming years.
"I believe the combined strengths of the two companies is excellent news for both Hitec and PolicyMatter's customers," said Hitec Chief Executive Jeremy Crame. "Together we are able to draw on broader expertise and resources to offer even more compelling solutions and services for the future - a future that is likely to be dominated by increased legislation. I'm particularly delighted that all PolicyMatter staff have joined Hitec, thereby ensuring continuity of support and development for the product going forward."
The coming together of the two teams means that customers and partners will benefit from unparalleled expertise in the field of communicating policies and auditing employee agreement.
"This is exactly the right time for a move of this nature," added outgoing PolicyMatter MD Chris Heslop, who will be joining Hitec along with the commercial, support and development teams. "Ensuring that employees have read, understood and signed up to key policies has been a major challenge for our customers for some time now. Our combined resources mean we can now provide them with even stronger support for responding to increasing pressures to demonstrate governance, compliance and security."