Jerusalem-based VinciWorks, a rapidly growing risk-management and compliance company, has been acquired by Marlowe, a GRC (governance, risk, and compliance) software giant in London. The deal is estimated to be worth at least £54 million (NIS 236m.).
VinciWorks provides risk and compliance tools to more than 530 global clients. The tools include a comprehensive e-learning platform that enables companies to reduce risk by training employees about their responsibilities based on the location, job role and knowledge of each employee.
It also offers Omnitrack, a flexible data-collection tool designed for compliance with more than 30 global regulations, including Know Your Customer/Customer Due Diligence supply-chain management, whistle-blowing and global tax reporting.
VinciWorks is developing a next-generation compliance platform that will enable companies to centrally manage their risk and compliance from a single system. The platform gives risk and compliance professionals a centralized view of all global compliance, and it has the potential to leverage AI and machine learning to discover breaches and emerging risks, said Yehuda Solomont, the company’s chief marketing officer.
VinciWorks’ primary R&D and service center is in the Jerusalem Technology Park. Over the past seven years, it has grown from six local employees to more than 30. The company has more than 500,000 users across many sectors and boasts 60 of the top 100 global law firms as clients.
With £5.5m. (NIS 24.1m.) in 2020 revenues and EBITDA (earnings before interest, taxes, depreciation and amortization) of £3.2m. (NIS 14m.), the company’s growth has exceeded 30% a year for the last five years, it said in a press release.
The company joins Marlowe, a software company listed on the London Stock Exchange with £280m. (NIS 1,228,781,484) in revenue and more than 40,000 clients. Marlowe said the deal is part of its strategy to become the market leader in GRC software.
“Joining Marlowe was a natural next step for VinciWorks,” VinciWorks CEO Josh Goodhardt said. “Marlowe’s expertise and resources will help us accelerate our vision for a one-stop governance, risk and compliance platform.
“VinciWorks has grown rapidly from an e-learning business into a comprehensive risk, compliance and ESG [environmental, social, and corporate governance] solution. As the GRC market develops, global organizations face compliance with an ever-increasing number of complex regulations and ESG requirements. VinciWorks has the regulatory knowledge and technical expertise to, together with Marlowe, build a next-generation platform for identifying and navigating risk and compliance around the globe,” Goodhardt continued.
VinciWorks founder and executive chairman Howard Finger said: “This is a great deal for Marlowe and VinciWorks. Marlowe’s strategic acquisition gives VinciWorks the resources and network to leverage its potential and deliver on its mission to reinvent the impact of compliance tools and training. Cross-selling to Marlowe’s 40,000 compliance customers is just the start, while creating a safer, fairer, more honest world is the ultimate goal.”