Source: SAI Global
SAI Global (ASX: SAI.AX), the world's leading partner to global organizations in Code of Conduct, compliance and ethics training, GRC solutions, and environmental, health & safety (EH&S) software, today announced that it has signed a definitive agreement to acquire 100% of the share capital in Compliance 360, an industry-leading software provider of enterprise governance, risk management, compliance and audit management (GRC) solutions.
Compliance 360 will remain in Atlanta, GA upon completion of the acquisition and operate as a line of business for SAI Global's Compliance Division.
Compliance 360's cloud-based Software-as-a-Service (SaaS) design and delivery allows businesses to securely manage financial controls, internal audit processes and compliance obligations with minimal IT infrastructure costs. Hundreds of healthcare, insurance and financial services companies use Compliance 360's SaaS-based GRC software and, as noted in the recently published "Forrester Wave™: Enterprise Governance, Risk and Compliance Platforms, Q4 2011," published by Forrester Research, Inc., Compliance 360 received the highest scores for customer satisfaction among all vendors covered by the report.
"Global organizations want to establish and manage their own governance, risk and compliance business processes in an efficient, cost-effective fashion. One of the best ways organizations can accomplish this is with a highly configurable SaaS-based GRC platform," said Andy Wyszkowski, Global Head of Compliance at SAI Global. He added, "Compliance 360 addresses this market need and is a great fit with our business. We intend to support and extend the Compliance 360 SaaS platform and integrate it with SAI Global's learning platform for a comprehensive compliance solution."
The broad Compliance 360 platform supports key GRC requirements including enterprise risk management, compliance management and audit management as well as assessments and surveys linked to each business process. It also provides third party risk management. Importantly, the platform integrates content from third parties like LexisNexis, ISACA, ANSI, etc. and delivers this content linked to specific compliance obligations. All Compliance 360 applications leverage a single platform with workflow, contract and document management, project management, reporting, and search integration. The demand for these workflow systems is mainly driven by regulat by regulatory and compliance rules that require businesses to adhere to government, industry and internal governance policies.
"The Compliance 360 merger with SAI Global is a great win for our customers," said Steve McGraw, Compliance 360 President, who will now report directly to Andy Wyszkowski. "We've always worked to deliver innovative and compelling solutions that provide value, and we believe SAI Global will offer us a significant opportunity to increase this value and further invest in our products, services and employees. We are delighted to be part of an organization that has global reach across the entire range of compliance and ethics solutions, from advisory services, benchmarking and Code of Conduct to compliance and ethics training, hotline and anti-corruption. We are very excited about the future with SAI Global."
The acquisition is expected to close by the end of January. Signal Hill advised Compliance 360 on the transaction.