Originally appeared in MiFID Monitor
Thomson Reuters has signed a definitive agreement to acquire Paisley, a US-based software provider of governance, risk and compliance (GRC) solutions. According to the financial information giant, once the deal has received the required regulatory approvals, Paisley will become part of its Tax & Accounting business.
Paisley’s solutions are focused on assisting firms to manage financial controls, internal audit processes and enterprise risk management. The firm currently employs around 230 people and provides both web-based and software as a service (SaaS) software products, including Enterprise GRC, and GRC on Demand.
Roy Martin, president and CEO of the Tax & Accounting business of Thomson Reuters, reckons Paisley is a great fit for Thomson Reuters as it looks towards enhancing its compliance software and digital research and accountancy guidance solutions. Accordingly, Paisley solutions will be integrated with other Thomson Reuters software and digital solutions such as Checkpoint and Onesource. The vendor hopes that this integration will give customers a broader set of integrated solutions to support global regulatory compliance.
Paisley hopes that its acquisition by Thomson Reuters will allow it to further invest in its products, services and employees.
Mark Schlageter, president of research & guidance for the Tax & Accounting business of Thomson Reuters, comments: “GRC is an increasingly complex area for corporations and accounting firms around the globe. By providing deep integration between Paisley’s software and Checkpoint, we can give customers a one stop solution to help them more effectively manage compliance with financial regulations, and secondly, more precisely manage their internal financial controls.”