Integrated risk management solutions Riskonnect has acquired governance, risk and compliance (GRC) management software developer Xactium for an undisclosed amount.
Riskonnect hopes this acquisition will accelerate its global growth, strengthen its financial services and project risk management capabilities, and provide customers with deeper AI and analytics capabilities for GRC.
By integrating Xactium and Riskonnect, customers of both companies will gain access to new capabilities, leverage more technology and take advantage of an expanded global footprint of service professionals.
Xactium offers technology to help risk, audit and compliance leaders with a risk management platform which utilises AI, 3D visualisation and automation to improve efficiency and optimise analytics.
Riskonnect CEO Jim Wetekamp said, “Today’s enterprise risk landscape is dominated by uncertainty, complexity, and change. Staying ahead requires a robust combination of expertise, intelligence, and technology. Xactium delivers on all three fronts.
“Adding Xactium’s deep industry experience, talented team, and innovative solutions to our GRC offerings will empower our customers to elevate and transform the way they manage risk and compliance and create value. We’re thrilled to welcome the entire company and customers to Riskonnect.”
Riskonnect delivers an integrated risk management solution which enables users to anticipate, manage and respond in real-time to strategic and operational risks across the enterprise. It’s services are used by more than 900 customers around the world to enhance business decisions through insights.
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