MUNICH - EQS Group, a global provider of cloud-based compliance and ethics software, has acquired the ethics and compliance division of OneTrust, including the Convercent by OneTrust platform. This move significantly enlarges EQS Group's footprint, particularly in the U.S. market, and adds over 1,000 worldwide customers across various industries to its portfolio.
The acquired platform, originally developed by Convercent, offers a suite of services including whistleblowing systems, ethics policy management, disclosure management, and learning tools. EQS Group plans to integrate its own expertise in compliance technology to enhance the platform's capabilities while maintaining uninterrupted service for existing customers. The acquisition includes the retention of all employees associated with the solution, thereby expanding EQS Group's workforce, mainly within the United States.
Achim Weick, founder and CEO of EQS Group, stated, "We are excited to welcome the passionate team behind this solution in the U.S., India, the UK, and Spain to EQS Group. Together, we will continue to build a seamless and innovative compliance management system for our customers."
Kabir Barday, founder and CEO of OneTrust, commented on the divestiture, noting that it allows OneTrust to concentrate on its core mission of promoting the responsible use of data and AI, while providing their ethics customers with a dedicated platform and partner.
As organizations face increasingly complex regulatory demands, EQS Group supports them by digitizing and automating compliance workflows, which helps companies meet their obligations more efficiently and fosters trust with stakeholders.
The financial terms of the transaction were not disclosed. Goldman Sachs & Co (NYSE:GS). LLC and Wachtell, Lipton, Rosen & Katz advised OneTrust on the deal, while Kirkland & Ellis provided legal counsel to EQS Group.
This expansion by EQS Group reflects its ongoing commitment to providing comprehensive compliance tools that support ethical corporate culture and streamlined processes. The information for this article is based on a press release statement.
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