Ncontracts snaps up Quantivate for an undisclosed sum
US-based risk, vendor and compliance management software provider Ncontracts has acquired Quantivate for an undisclosed sum.
Quantivate acquired by Ncontracts
Founded in 2005 and based in Washington, Quantivate provides governance, risk and compliance (GRC) solutions for banks and credit unions in the US.
With the acquisition, Ncontracts hopes to strengthen its position in the US market and expand its offerings for customers. The acquisition is expected to bolster Ncontracts’ workforce to 350 employees with a combined customer base of over 4,000 financial institutions.
While terms of the acquisition remain undisclosed, Ncontracts says its CEO, Michael Berman, will carry on his role as CEO of the combined entities.
“We are both mutually committed to helping financial institutions reduce risk, improve compliance, and control costs, so combining our resources empowers us to be an even better provider of software and services for our customers and the financial industry,” Berman says.
Quantivate says the combined entity “brings together resources and services that will improve and enhance the customer experience for our mutual clients”.
