Riskonnect has acquired Sword GRC, a UK-based software company that specializes in project and enterprise risk management solutions, from Sword Group.
The acquisition advances Riskonnect’s IRM approach by uniquely incorporating project risk into its platform and enabling customers to bring all aspects of enterprise risk under one roof.
“Sword GRC’s innovative project risk and enterprise risk management software is a natural fit with Riskonnect’s integrated risk management vision and offering,” said Jim Wetekamp, Riskonnect’s CEO. “The Riskonnect team is passionate about building tools that help our customers bring risk under one roof and achieve end-to-end visibility. We’re delivering a truly unparalleled solution to the market that advances those objectives by integrating Sword GRC’s Active Risk Manager into our platform. The combined toolset positions us to provide even more value for customers.”
The acquisition drives both organizations’ global growth objectives and enables Riskonnect to enter into new key vertical and geographic markets. Sword GRC specializes in project and enterprise risk management solutions for the aerospace and defense, energy, financial services and government industries. The company serves over 300 customers worldwide and has 150+ employees in the U.S., UK, and ASPAC.
“Our customers are our highest priority. We are confident that this combination and its financial strength will better serve our customers through an enhanced and diversified product suite. The comprehensive solution set is uniquely built to enable and support business performance through risk management,” said Sword GRC CEO, Nick Scully.
Sword GRC’s project risk management solution will seamlessly integrate into Riskonnect’s IRM platform.
Bryan Garnier & Co acted as financial advisor and Mayer Brown acted as legal counsel to Sword Group, and Kirkland & Ellis acted as legal counsel to Riskonnect.