Acuity RM Group Plc - Acquisition – Company Announcement - FT.com
Summary
This announcement contains inside information for the purposes of Article 7 of the version of Regulation (EU) No 596/2014 which is part of law by virtue of the (Withdrawal) Act 2018, as amended ("MAR"). (AIM: ACRM), the risk management software group delivering GRC SaaS solutions, is pleased to announce its wholly owned subsidiary (“Acuity”) has acquired the Rizikon product including software, IP and customer lists from Crossword Cybersecurity plc (in Administration) (“Seller”) for a cash consideration of £15,000. Rizikon is an automated Third Party GRC software product which allows organisations to track, manage and report on supplier compliance with company policies by providing risk scorecards and compliance dashboards to report on third-party risks, improving third-party assurance and risk management through automated, secure and standardised systems leading to increased visibility of suppliers. One of the most important elements of the acquisition, in addition to the expected material resultant growth in Acuity’s revenues and customer base, is the opportunity it affords Acuity to significantly increase its connectivity and potential customer partnership with major organisations. This is the first step in building the business by using a focused acquisition to supplement the organic growth.” (AIM: ACRM), is an established provider of risk management services.