Ascent Technologies, a Chicago-based provider of AI-driven compliance automation, has been acquired by Edgewater Equity Partners, a private equity firm in Boston. The acquisition aims to accelerate development of Ascent’s compliance automation platform and enhance its value proposition to customers.
The acquisition is a strategic move for Edgewater Equity Partners, which acknowledges Ascent’s capability in AI-driven technology that simplifies and streamlines regulatory compliance processes and plans to accelerate the company’s innovation trajectory by providing it with additional resources to enhance the platform and expand market presence.
“We welcome the Edgewater Equity Partners team as our strategic partner,” says Chris Junker, CEO of Ascent. “Its track record of growing companies of our size is impressive, and its experience will be invaluable as we continue to expand our footprint in the compliance technology landscape.”
Edgewater Equity Partners managing partner, Joe Bradley, adds: “We were drawn to Ascent by its ability to help companies solve their most critical compliance challenges. Ascent’s commitment to innovation offers tremendous potential to advance AI-driven compliance automation.”
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