In addition, Ci3 has announced it is to resume 100% control from minority stakeholder Comit Gruppe/Swisscom.

"I am delighted to unveil this latest phase of our corporate development," says Seamus O'Farrell, managing director Ci3. "As Ci3 we can now focus on continuing to develop our award winning products, Sword and Syntinel, while maintaining our excellent service to the financial services sector. Control, Compliance and Certainty over management processes are the very essence of what we bring to the International Financial Services Sector."

"Up to now Ci3, has been part owned by Comit Gruppe/Swisscom, and from October 2005, Ci3 partners will assume 100% ownership of the company," continues Seamus O'Farrell. "This rebranding also presents an opportunity for Ci3 to develop into a strong, commercially independent entity, strongly focused on sales and growth, and allows us to further invest in the development of our products."

"The rebranding and restructuring is an opportunity to re-affirm our commitment to our clients, resellers and technology partners. Ci3 will build on the success of SWORD and will surpass our current Top 5 market status," he says.

Ci3 was founded in 1995 in Dublin, and is the developer of SWORD, its flagship system for Operational Risk, Internal Audit and Corporate Governance. SWORD has almost 2,000 users in leading financial service firms across 23 countries, including Schroders, Anglo Irish Bank, MAN Group, Pearl Assurance and Hendersons. SWORD recently won reader and editor awards from the prestigious financial services publications The Banker and Operational Risk.