Kennesaw, a USA-based company specializing in integrated risk management (IRM) solutions, Riskonnect acquired Ventiv Technology, an Atlanta, USA-based risk, insurance, and underwriting technology solutions provider. The company announced the acquisition on January 11, 2023. However, it did not disclose the amount of the acquisition.
Riskonnect’s current majority investor, TA Associates (TA), a leading global private equity firm, provided additional investment capital for the acquisition of Ventiv. It seeks to continue as the majority owner.
Purpose of acquisition by Riskonnect
With the latest deal, Riskonnrct seeks to fuel growth and innovation for itself. It further intends to drive value for customers by enabling organizations to bring all aspects of risk under one roof.
Riskonnect’s acquisition of Ventiv further enhances value for more than 2,500 combined customers globally. The integrated offerings create a comprehensive suite of risk management tools. These solutions streamline data management, provide actionable insights personalized for specific business sectors, as well as turn risk into a strategic advantage.
What the Riskonnect official have to comment
Jim Wetekamp, Riskonnect’s CEO, said, “We’re thrilled to welcome the entire Ventiv team to Riskonnect. The acquisition adds substantial value for our customers, giving users of both companies access to a broader range of products and services that are intentionally designed to meet the diverse needs of modern risk management. We’re bringing a value-enhancing suite of tools to market that equips organizations to confidently answer the increasingly imperative question – ‘how at risk are we?’. Our complementary technologies and shared commitment to helping customers stay ahead of the rapidly evolving risk landscape positions all our key stakeholders for success.”
What the Ventiv Technology official has to add
Salil Donde, Ventiv’s CEO, further added, “We share Riskonnect’s mission to transform the way companies manage risk. Pooling our resources and expertise enables us to continue to innovate on AI-driven predictive analytics and expand our reach globally to best serve the present and future needs of our customers.”
What the other industry experts have to comment
Patrick O’Neill, president and founder of Redhand Advisors, said, “By joining forces, Riskonnect and Ventiv Technology, both recognized as industry leaders in the Redhand RMIS Report, are not only consolidating their technological expertise but also strengthening their commitment to providing leading RMIS solutions to customers seeking to optimize their risk management strategies.”
About Riskonnect
In 2007, Founders Antonio Dabraio and Bob Morrell launched Riskonnect. The company is the leading integrated provider of risk management software solutions. Their technology empowers organizations with the ability to anticipate, manage, as well as respond in real time to strategic and operational risks across the extended enterprise.
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