ACA Compliance Group to acquire Cordium
10 April 2018 New York
Image: Shutterstock
ACA Compliance Group (ACA) 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 have not been disclosed.
Following the closing, Cordium’s compliance, cybersecurity, software, regulatory hosting, tax and regulatory reporting offerings will be integrated into ACA’s operations.
According to ACA, the acquisition will also expand ACA’s services in Europe to include Cordium’s regulatory hosting platform, Mirabella, and a post-Brexit EU office.
Robert Stype, CEO of ACA, said: “Cordium’s expertise, technology strengths and shared culture will greatly expand how we service and deliver our solutions to clients.”
He added: “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, commented: “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.”
He added: “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.”
The transaction is expected to close this summer, subject to regulatory approvals. The financial terms of the transaction have not been disclosed.
Following the closing, Cordium’s compliance, cybersecurity, software, regulatory hosting, tax and regulatory reporting offerings will be integrated into ACA’s operations.
According to ACA, the acquisition will also expand ACA’s services in Europe to include Cordium’s regulatory hosting platform, Mirabella, and a post-Brexit EU office.
Robert Stype, CEO of ACA, said: “Cordium’s expertise, technology strengths and shared culture will greatly expand how we service and deliver our solutions to clients.”
He added: “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, commented: “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.”
He added: “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.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
.jpg)