Corlytics snaps up Clausematch in latest regtech acquisition
Irish regulatory risk intelligence firm Corlytics has acquired UK-based regtech company Clausematch for an undisclosed sum.
Corlytics CEO John Byrne (left) and Clausematch CEO Evgeny Likhoded (right)
Clausematch is a Software-as-a-Service (SaaS) provider that helps organisations ensure compliance through the creation and management of various types of regulatory documents and policies.
The company’s acquisition will see this capability merged with Corlytics’ regulatory data and analytics tech, enabling the classification, tagging and mapping of regulatory content.
The now expanded offering of Corlytics Group covers the regulatory management value chain through regulatory monitoring, regulatory change management, policy management and attestation.
What’s more, the move brings the group’s combined number of clients to 80, including Tier 1 organisations such as ING and SwissRe, alongside 14 of the industry’s top 50 banks.
The deal also sees Clausematch founder and CEO, Evgeny Likhoded, appointed to the newly-created position of Corlytics president.
With this, he will be responsible for ensuring that Corlytics can act as a strategic partner to solving clients’ regulatory technology issues as well as overseeing the management of the group’s portfolio of solutions.
Additionally, Corlytics founder and CEO, John Byrne, will work to drive the enlarged group’s growth strategy, profitability and vision as CEO.
In preparation for the estimated growth of the global regtech market, projected at 53% CAGR, this latest deal marks Corlytics’ second acquisition of the year following its January 2023 deal to buy ING SparQ to digitalise the regulatory value chain.
Reflecting on this activity, Byrne says the deal “marks a new milestone in continuing the managed growth journey of our platform”, citing matching synergies between the customer bases of the two now-joined companies.
