Vancouver, Feb. 04, 2019 (GLOBE NEWSWIRE) -- ACL today announced the next step in its industry consolidation strategy with the acquisition of Rsam, an analyst-recognized leader in IT, vendor, and security risk management solutions, headquartered in Secaucus, New Jersey. The combination brings together ACL’s true SaaS platform differentiated by its proprietary risk assurance methodology, advanced analytics/robotic process automation, and top-rated user interface design with Rsam’s dynamic flexibility, universal IT systems integration capability, and deep industry content. It also more than doubles ACL’s R&D capacity, accelerating the delivery of innovation to 7,000 customers in 135 countries. The acquisition follows a $50M strategic investment by Norwest Venture Partners in 2017 and over 50% organic growth in new bookings in 2018.
“This acquisition combines the strengths of ACL in delivering audit, compliance, and fraud related solutions, with those of Rsam in delivering vendor risk, IT risk, and cyber security solutions to enterprise IT and security customers,” said Laurie Schultz, CEO of ACL. “The integration of our teams and platforms will transform our ability to provide a completely integrated and automated view of risk to the world’s largest organizations—from front line operations to the board of directors—making our users the most sought-after professionals in their organizations.”
With the acquisition, Rsam’s co-founders Vivek Shivananda (CEO) and Kevin Day (CTO) join ACL’s leadership team reporting to ACL CEO Laurie Schultz.
“Global issues like GDPR compliance, money laundering, third-party risk and cyberattacks have emerged as key risks driving the $36 billion-dollar GRC software market we are consolidating,” said Vivek Shivinanda. “Both ACL and Rsam have a vision for an integrated, data-driven GRC solution to these risk areas from opposite ends of the market. Now, as a combined industry catalyst, we will advance our goal of becoming the first name in GRC.”
Both ACL and Rsam have received wide industry recognition and analyst validation including placement in The Forrester Wave™: Governance, Risk, And Compliance Platforms, Q1 2018.
According to the Gartner Magic Quadrant for Integrated Risk Management, by John A. Wheeler, Jie Zhang, Earl Perkins, dated July 16, 2018, “The IRM market is the largest of all the solution provider markets covered by Gartner in the security and risk management (SRM) software ecosystem. It also ranks third highest in terms of estimated profitability margin. As a result, this is one of the most dynamic software markets within our coverage and looks to be one to watch for the next several years.” ACL and Rsam were recognized as Challengers and Visionaries respectively in the research report.
Terms of the private transaction will not be released.
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About Rsam:
Rsam, a market leader in Governance, Risk, and Compliance Management (GRC), helps organizations achieve their business objectives by overcoming the daily challenges of integrated risk management through innovative technology. Adaptability and extensibility are core to the DNA of our software platform which has fundamentally changed the way the industry approaches GRC, Security Operations, and Vendor Risk Management and Enterprise Risk Management Solutions. Recognized for innovation in architecture, automation, and integration capabilities, Rsam empowers organizations throughout their GRC journey to demonstrate value quickly, maintain control, and adapt to change without the time, cost, or resources typically associated with GRC/IRM initiatives.
Learn more at www.rsam.com
About ACL:
ACL’s GRC platform offers a flexible solution across the major risk management use cases shared by finance, IT, risk, and compliance leaders at the world’s largest enterprises and governments. The platform is totally unique to the GRC industry in its ground-breaking data integration and robotic process automation capabilities, allowing customers to drive automation and deep risk insights across their GRC-related programs. www.acl.com
© 2019 ACL Services Ltd. ACL and the ACL logo are registered trademarks of ACL Services Ltd. All other company and product names are trademarks of their respective owners.
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