OneTrust announced it signed a definitive agreement to acquire Convercent.
The acquisition will build on OneTrust’s longstanding investments in creating the technology fabric of trust within an organization, bringing together privacy, security, data governance, ethics and compliance, GRC, third-party risk, and ESG into a single operational workflow.
Convercent’s technology, 750 customers, 150 employees, and global CONVERGE user community, will see an acceleration in investment while integrating into OneTrust’s platform, global customer base of 8,000 organizations, and more than 1,500 employees across 12 offices.
Defining the new software category
Trust and transparency are driving the next generation of business innovation and market differentiation. Rising amounts of personal data, advancements in AI and personalization, and customer demand for transparency have created increasing pressure for organizations to operate and differentiate based on trust.
To successfully make trust a competitive differentiator, organizations must manage the complex myriad of privacy regulations, security requirements, ethics and compliance frameworks, and sustainability initiatives.
By helping organizations build centralized, agile workflows across privacy, security, data governance, ethics and compliance, GRC, third-party risk, and ESG, OneTrust is pioneering this new software market of trust and building the trust fabric of an organization.
Ethics & compliance at the foundation of trust
Integrating Convercent into OneTrust further enhances the platform’s foundation of trust through advanced ethics and compliance capabilities.
The Convercent Ethics Cloud Platform, including whistleblowing, policy management, disclosure management, analytics and benchmarking, and learning, are used by more than 750 enterprise customers.
With a team of 150 ethics and compliance experts, Convercent brings unparalleled experience in managing the world’s most complex and advanced global ethics programs, including Airbnb, Under Armour, Kimberly-Clark, and TimeWarner.
“Kimberly-Clark is continuously focused on improving our integrity culture, because building trust with our employees, consumers, and stakeholders provides a competitive advantage,” said Kurt Drake, Chief Ethics & Compliance Officer, Kimberly-Clark.
“A key component of that focus is having centralized programs and platforms that provide metrics and insights in delivering better results and value for our customers and stakeholders.
“As customers of both Convercent and OneTrust, there is strategic value in bringing the two platforms together, allowing integration of metrics and reporting, which drives further insights and value for Kimberly-Clark.”
“Convercent brings innovative ethics and compliance customer programs into the OneTrust platform,” said Kabir Barday, OneTrust CEO and Fellow of Information Privacy (FIP).
“The technology fits seamlessly into the OneTrust platform, and our vision to build trust as the technology fabric within an organization.
“We’re excited to welcome Convercent’s team of experts, customers, and CONVERGE community into the OneTrust family and work together to make trust a competitive advantage.”
“At Convercent, we passionately believe that driving ethics to the center of business can build a better world,” said Patrick Quinlan, CEO, Convercent.
“Becoming a part of OneTrust is a natural fit. Just as ethics programs must exist within all functions of a business, ethics and compliance programs too are more effective as a part of a broader trust framework. We’re delivering on this greater vision with OneTrust.
“We’re grateful to the Convercent community of employees, customers, partners, and families, who have worked alongside us, and now as a part of OneTrust we can deliver for our community faster and bolder than ever before.”
Financial details of the acquisition were not disclosed, and the transaction is expected to close in April.