Riskonnect Acquires Risk Management Company Sword GRC
Integrated risk management (IRM) solutions firm Riskonnect has acquired risk management software company Sword GRC for an undisclosed amount.
This is technology M&A deal number 219 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
IRM Company Riskonnect Acquires Sword GRC
Based in the United Kingdom, Sword GRC specializes in project and enterprise risk management solutions. Riskonnect bought the company from Sword Group, a multi-national IT, digital and software specialist.
The acquisition advances Riskonnect’s IRM approach by incorporating project risk into its platform and enabling customers to consolidate their enterprise risk management efforts, the company said.
The deal also helps Riskonnect enter new key vertical and geographic markets thanks to Sword GRC’s specialization in the aerospace and defense, energy, financial services and government industries, according to the company. Sword GRC serves over 300 customers worldwide and has over 150 employees in the U.S., UK and Asia-Pacific region.
Riskonnect Acquires Sword GRC: “A Natural Fit”
Jim Wetekamp, CEO, Riskonnect, commented:
“Sword GRC’s innovative project risk and enterprise risk management software is a natural fit with Riskonnect’s integrated risk management vision and offering. The Riskonnect team is passionate about building tools that help our customers bring risk under one roof and achieve end-to-end visibility. We’re delivering a truly unparalleled solution to the market that advances those objectives by integrating Sword GRC’s Active Risk Manager into our platform. The combined toolset positions us to provide even more value for customers.”
Nick Scully, CEO, Sword GRC, said:
“Our customers are our highest priority. We are confident that this combination and its financial strength will better serve our customers through an enhanced and diversified product suite. The comprehensive solution set is uniquely built to enable and support business performance through risk management.”