SAI Global acquires Compliance 360

Governance solutions company, SAI Global has entered into a share purchase agreement to fully acquire Compliance 360 a provider of software as a service (SaaS)-based governance, risk and compliance (GRC) services, Pace Today reports.

SAI Global CEO Tony Scotton says: "In 2010, we achieved a leadership in the ethics training and awareness space through the acquisition of Integrity Interactive. The acquisition of Compliance 360 is a significant step in achieving similar status in the GRC space."

In a Market Watch report, Andy Wyszkowski, SAI Global head of compliance, says: "Compliance 360 addresses this market need and is a great fit with our business. We intend to support and extend the Compliance 360 SaaS platform and integrate it with SAI Global's learning platform for a comprehensive compliance solution."

The Compliance 360 platform supports key GRC requirements including enterprise risk management, compliance management and audit management, as well as assessments and surveys linked to each business process.

The acquisition is scheduled for completion by the end of January following satisfaction of certain conditions, including third-party consents, 4-traders states.

Consideration for the acquisition, payable upon completion, is $42.3 million plus an adjustment for working capital.