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ACA Compliance Group Acquires Regulatory IT Consulting Firm

Cordium CEO Doug Morgan

ACA Compliance Group is acquiring Cordium, a provider of governance, risk and compliance (GRC), cybersecurity and associated technology services. The deal is expected to close this summer. Financial terms were not disclosed.

ACA’s customers include investment advisers, private fund managers, commodity trading advisors, investment companies, broker-dealers, and domestic and international banks. The company’s service catalog includes standard and customized compliance packages; cybersecurity, AML, and risk assessments; GIPS verifications and other performance services; and a variety of business advisory and technology solutions for financial services firms, ACA says.

For its part, Cordium’s customer focus is the asset management and securities industry. The company has offices in London, New York, Boston, San Francisco, Malta and Hong Kong.

ACA Acquires Cordium: Potential Benefits

ACA gains a range of Cordium services through the deal, including:

  • Cordium’s regulatory hosting platform in Europe, called Mirabella.
  • Employee Level Filing (ELF), a tool that lets customers build a comprehensive compliance intranet for employees.
  • Pilot, which helps customers to create and maintain a compliance infrastructure to meet global regulatory requirements.
  • Associated technology and cybersecurity services.

In a prepared statement, ACA CEO Robert L. Stype 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.”

Cordium CEO Doug Morgan added:

“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.”

The combined companies expect to have about 700 employees supporting 4,000 customers worldwide.

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