Source: ACA Compliance
ACA Compliance Group (“ACA”) announced that it will acquire Cordium, a provider of governance, risk and compliance (GRC) services. The transaction is expected to close this summer, subject to regulatory approvals. The financial terms of the transaction will not be disclosed.
The complementary strengths of both firms will ensure that clients will have access to the highest caliber regulatory consultancy services and technology - and will serve as the springboard for further product innovation and global expansion. The acquisition also will expand ACA’s services in Europe to include Cordium’s regulatory hosting platform, Mirabella, and a post-Brexit EU office.
Robert L. Stype, CEO of ACA Compliance Group, said: “Cordium’s expertise, technology strengths and shared culture will greatly expand how we service and deliver our solutions to clients. By blending the delivery of innovative technology, depth of knowledge, and exceptional client service, we can help our clients further enhance their approach to GRC. As two leaders in the space, working as one will allow us to innovate faster and deliver more value to clients.”
Doug Morgan, Group CEO of Cordium, said: “With the existing strengths and capabilities of Cordium and ACA, the market can expect an unprecedented level of GRC support, built by integrating the resources, expertise and technology of both companies. GRC has never been higher on the agenda of the financial services industry, especially given the current pace of technology innovation. Through this partnership, we will be able to provide guidance and efficiencies to firms of all profiles and strategies.”
Following the closing, Cordium’s compliance, cybersecurity, software, regulatory hosting, tax and regulatory reporting offerings will be integrated into ACA’s operations to create a combined organization employing nearly 700 people and servicing over 4,000 clients worldwide.