Riskonnect, the leader in integrated risk management solutions, today announced that it has signed an agreement to acquire Marsh ClearSight LLC, a global leader in risk, safety, and claims software and services and a business unit of Marsh, a global leader in insurance broking and innovative risk management solutions. Terms of the transaction, which is expected to close in the third quarter, were not disclosed.
Upon completion of the transaction, Riskonnect will expand its offerings, providing customers a comprehensive, end-to-end technology suite to manage and control risk. The combination will create a single provider that will deliver more choices, deeper value and an expanded global footprint of more than 500 professionals serving over 900 customers.
“Today’s organizations face intensified and increasing risks from internal and external sources and need a visionary partner to help them tackle this challenge strategically and cost-effectively,” said Jim Wetekamp, CEO of Riskonnect. “As Riskonnect looks to deepen customer engagement and expand our value to our customers, acquiring Marsh ClearSight’s deep industry expertise, technology and global scale was a clear choice. Together, we’ll deliver a comprehensive, integrated risk management solution suite unmatched by any other vendor.”
On completion, Riskonnect will continue to serve customers of Marsh, ensuring they get both the best risk management advice and insurance solutions as well as access to state-of-the-art enterprise risk management software.
“By combining ClearSight with Riskonnect, clients will have access to a single provider for all of their integrated risk management software needs and can expect more frequent upgrades to keep pace with the evolving risk landscape,” said John Drzik, President, Global Risk & Digital, Marsh. “We believe this expanded and more integrated set of software solutions, together with Marsh’s market-leading capabilities in risk advisory and insurance placement, are a win-win for our clients.”
“This transaction creates a highly attractive global organization covering the full scope of integrated risk management that is able to serve the broadest range of industries in the market. We’re incredibly excited about Riskonnect’s opportunity to continue serving the evolving risk management needs of both current and future customers,” said Hudson Smith, a Partner at Thoma Bravo.
Riskonnect will continue to be led by CEO Jim Wetekamp and an executive team with significant industry experience and will continue to operate from its headquarters in Atlanta, Georgia.