Integrated risk management software provider SAI Global has confirmed plans to acquire BWise, an enterprise governance, risk and compliance (GRC) software platform established in 1994 and acquired by Nasdaq in 2012. The transaction, subject to regulatory approvals, works council and other representative body consultations and notifications in various applicable jurisdictions, is expected to complete in the first half of 2019.
“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,” says Adena Friedman, Nasdaq President and CEO. “SAI Global is the right partner for BWise, and we are confident in their ability.”
The acquisition forms the next step in SAI Global’s ‘SAI360 Risk Software Strategy’, designed to help organizations across multiple industry verticals manage their risk, compliance and audit programs at a time of intensifying demand on organizational resilience and brand reputation. “The pervasive and unpredictable risk landscape requires organizations to eliminate silos, and focus on time to value across a broad set of use cases,” comments SAI Global CEO Peter Granat. “We are very excited to bring our teams together and leverage our newly-combined capabilities.”
“By joining forces with SAI Global, we have a unique opportunity to drive change at a massive scale and reshape the industry,” adds Jonathan Deeks, CEO of BWise.
The news follows SAI Global’s earlier acquisition in August 2018 of Strategic BCP ResilienceONE, a business continuity management solutions firm: adding business continuity, crisis management, disaster recovery, and contingency management to its existing risk software portfolio.
Until the closing of the transaction, SAI Global and BWise will continue to operate as independent companies.