Integrated risk management provider Riskonnect has acquired Sword GRC, a software company that specializes in project and enterprise risk management solutions. Terms of the deal were not disclosed, but the companies reported that Sword GRC’s project risk management solution will be integrated into Riskonnect’s IRM platform.
“Sword GRC’s innovative project risk and enterprise risk management software is a natural fit with Riskonnect’s integrated risk management vision and offering,” Jim Wetekamp, Riskonnect CEO, said in a news release. “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.”
The acquisition is expected to drive both organizations’ global growth objectives and enable Riskonnect to enter new vertical and geographic markets. Sword GRC specializes in project and enterprise risk management solutions for the aerospace and defense, energy, financial services and government industries. The company serves more than 300 customers worldwide and has 150-plus employees in the U.S., UK and Asia-Pacific.
“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,” Sword GRC CEO Nick Scully said in the news release.
Bryan Garnier & Co acted as financial adviser and Mayer Brown acted as legal counsel to Sword Group, which is based in the UK, and Kirkland & Ellis acted as legal counsel to Riskonnect, which is based in Kennesaw, Georgia.