Diligent acquires Galvanize and will become the world’s leading GRC SaaS company

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Diligent acquires Galvanize and will become the world's leading GRC SaaS company

Diligent Corporation (hereinafter referred to as “Diligent” or “Company”) is a modern governance company whose platform has been used by nearly 70 Used by 10,000 board directors and leaders.

The company announced today that it has signed an agreement to acquire Galvanize, the world’s leading SaaS governance, risk and compliance (GRC) software company. The financial terms of the transaction were not disclosed.

Before reaching the acquisition transaction, Diligent had signed an agreement to acquire Steele Compliance Solutions, Inc. (“Steele”) in February 2021. Steele is a leading company in the field of ethics and compliance SaaS. Both transactions are expected to be completed in March.

After acquiring Galvanize, Diligent will become the leading SaaS GRC provider. After its integrated solution is integrated with Steele’s services, an integrated GRC view will be realized-from audit, risk, information security, ethics and compliance of the entire organization to the CEO, CFO and board of directors. Will cover them.

Corporate customers will benefit from a powerful operating system that supports an organization-wide governance plan and provides trusted concierge-level customer support services with an NPS score of more than 50 points.

As the only company rated as a comprehensive “leader” by Gartner and Forrester analysts, Galvanize serves 6,000 global customers in 130 countries (including Fortune 1,000 and more than half of the S&P 500).

The integrated cloud GRC platform supported by robot data automation covers security, risk management, compliance and audit software. As a cloud service provider authorized by FedRAMP, Galvanize is committed to advancing customer missions in a transparent and efficient manner, which has won the trust of more than 900 government agencies around the world (including most large agencies in the US federal government).

Diligent plans to use Galvanize’s 11 comprehensive risk and compliance solutions to strengthen its modern governance platform, thereby bringing new insights into its leading board and leadership applications and operational governance solutions.

Galvanize’s flagship cloud platform, HighBond, can aggregate risk and compliance issues into the top-level strategy of the entire organization, and provide real-time dashboard displays of comprehensive business indicators to the top management and the board of directors.

Diligent CEO Brian Stafford said: “We are on the cusp of the new era. Corporate executives and the board of directors are constantly responding to the huge challenges and opportunities faced by their stakeholders.

In order to effectively maximize performance and reduce risks, they More than ever, an integrated view of data and information, as well as clear visibility and decision-making confidence are needed. Traditionally, risk and compliance data are located in different systems in the audit, compliance, and risk functions.

Combining data into one view and presenting it to the CFO, CEO, and board of directors is a time-consuming and laborious task. We are very happy to be able to combine with Galvanize and Steele through a fully integrated GRC platform , To bring a more significant impact to our customers and help them to promote the operation of the organization more effectively, fairly, sustainably and successfully.”

Laurie Schultz, President and CEO of Galvanize, said: “This transaction quickly advances our vision of building an operating system for GRC-conscious organizations, and further advances our mission to help GRC become today’s mission-critical enterprise platform. And governance The collaboration of Diligent, a recognized market leader in the field, represents my direct, practical and far-reaching redefinition of the US$41 billion GRC market.

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Through Diligent’s influence on thousands of boards of directors around the world, we have built a product together. It ensures that the organization has the real-time insights needed to manage risk and optimize performance at all levels.”

Credit Suisse acted as Diligent’s exclusive financial advisor and Willkie Farr & Gallagher LLP acted as its legal advisor. For Galvanize, Evercore served as financial advisor, and Fasken Martineau DuMoulin LLP served as legal advisor.

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