This is M&A deal 263 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Founded in 2016, OneTrust is a privacy software company valued at nearly $3 billion.
Integris, also founded in 2016, provides data discovery and classification technology, all powered by AI. Key clients include Fortune 500 companies across many industries, including retail, telecom, transportation, automotive, and technology.
Together, the companies offer privacy software that helps customers comply with the California Consumer Privacy Act (CCPA), the General Data Protection Regulation (GDPR) in Europe, and more.
Integris's technology has already been tucked into OneTrust’s DataDiscovery offering. The technology is used to monitor compliance during cloud migrations, identify personal and non-personal data, assist in data breach impact analysis, and more.
Integris Acquisition: Executive Insight
Kabir Barday, OneTrust CEO and Fellow of Information, commented:
"Our customers have encouraged us to continue to lead the market with innovation in automated data discovery capabilities. After evaluating dozens of discovery technologies, we identified Integris Software as having best in class technology and a team that will combine with OneTrust to accelerate our innovation and benefit our customers."
Kristina Bergman, founder and CEO, Integris Software, added:
"Integris Software is excited to be a part of the OneTrust family and join the world's leader in privacy, security, and governance. We knew OneTrust's 6,000 customers would be eager to use our combined solution quickly, so we've worked hard over the last few months to seamlessly bring the technologies together and offer organizations the ability to use the Integris technology within OneTrust DataDiscovery immediately."
Bergman previously served as principal at Ignition Partners and a manager at Microsoft. She co-founded Integris with current-CTO Raghu Gollamudi. Integris has raised a total of $17.5 million in funding over four rounds, according to Crunchbase.
OneTrust completed a $210 million round of funding in February 2020. In April, the company laid off at least 10 percent of its workforce, citing financial troubles caused by the coronavirus pandemic. OneTrust currently has about 1,500 employees working from 10 offices around the globe.