Nasdaq has entered into an agreement to sell BWise to SAI Global, a recognized leader of integrated risk management solutions.
Image: Nasdaq has agreed to sell BWise to SAI Global. Photo: courtesy of rawpixel / Unsplash.
The closing of this transaction is subject to regulatory approvals, works council and other representative body consultations and notifications in applicable jurisdictions, and customary closing conditions, and is projected to occur in the first half of 2019.
BWise is an enterprise governance, risk and compliance (GRC) software platform established in 1994 and acquired by Nasdaq in 2012. Its enterprise GRC software platform and Risk Intelligence services and solutions help companies drive process efficiencies, enhance accountability, and reduce costs, resulting in improved decision making within an organization’s Enterprise Risk Management program.
These solutions support companies of all sizes with operational risk management, internal audit, internal control, compliance, and information security programs.
SAI Global helps organizations proactively manage risk to create trust and achieve business excellence, growth, and sustainability. The company’s integrated risk management solutions operate across their customers’ entire risk lifecycle, thereby offering a strategic alignment opportunity with the BWise product suite.
“This transaction is a result of Nasdaq’s renewed corporate strategy to concentrate our resources, people, and capital to maximize our potential as a technology and analytics provider to the capital markets, while also investing to enhance our leading marketplaces and the capital market clients we serve,” said Adena Friedman, President and CEO, Nasdaq.
“SAI Global is the right partner for BWise, and we are confident in their ability to ensure BWise’s clients continue to receive excellent customer service and even more comprehensive risk and compliance services and solutions in the future.”
As Nasdaq concentrates the solutions it offers to corporate clients globally, it is focused on maximizing the benefits our clients receive from our capital markets and governance expertise, coupled with our analytics and technology capabilities.
In that regard, in addition to providing successful access to capital markets with our world-class exchanges in the U.S. and Europe, Nasdaq is dedicated to providing our corporate clients with strategic C-Suite and board solutions that provide investor relations intelligence and governance insights and collaboration.
“We are excited about having SAI Global as our new partner and look forward to being able to accelerate our strategic vision as we continue to serve our clients amidst a fast-changing risk and compliance landscape,” said Jonathan Deeks, CEO, BWise. “By joining forces with SAI Global, we have a unique opportunity to drive change at a massive scale and reshape the industry.”
Until the closing of the transaction, SAI Global and BWise will continue to operate as independent companies and will remain committed to providing superior service to create value for their customers.
Source: Company Press Release