Insurance Journal, February 28, 2022
Integrated risk management software provider Riskonnect reports it has acquired the Sword GRC, a UK-based software company that specializes in project and enterprise risk management products, from global technology firm Sword Group.
The acquisition of Sword’s GRC software (Governance, Risk and Compliance) business advances Atlanta, Georgia-based Riskonnect’s integrated approach by incorporating project risk into its platform.
The acquisition also enables Riskonnect to enter into new vertical and geographic markets. Sword GRC specializes in project and enterprise risk management for the aerospace and defense, energy, financial services and government industries. The company serves more than 300 customers worldwide and has 150+ employees in the U.S., UK, and Asia Pacific. Sword GRC has offices in the UK, U.S., Singapore and Australia.
Jim Wetekamp, Riskonnect CEO, called Sword GRC’s Active Risk Manager program a “natural fit” and one that will integrate “seamlessly” with Riskonnect’s offerings.
Riskonnect acquired ICIX last October. ICIX is a California-based value chain governance company that helps businesses manage and verify environmental, socials and governance (ESG) performance. ICIX’s software provides risk, audit, and compliance tools for sourcing and supply chain management, safety and quality compliance, diversity and inclusion, trading partner onboarding, information exchange, and performance management. In 2018, Riskonnect acquired Marsh ClearSight, a risk, safety and claims business unit of insurance broker Marsh.
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