Today, Global Compliance is excited to announce our intent to merge with ELT Inc. and EthicsPoint, Inc. The combined company will play a leading role in the Governance, Risk and Compliance (GRC) industry with the capacity to meet the expanding needs of customers all over the world. The merger is anticipated to close at the end of February, subject to customary approvals.
The combination of these complementary platforms will create a company with significantly expanded capabilities and resources, a workforce of several hundred employees, a client base of nearly 6,500 organizations around the globe and an unmatched commitment to quality and continual innovation.
The merger was driven by the acquisition of Global Compliance by The Riverside Company, a private equity firm based in Cleveland, Ohio. Riverside previously acquired Employment Law Training (ELT), the online training company based in San Francisco, CA, in December 2010. The acquisition of ELT was Riverside’s first move into the ethics and compliance industry – and they were intrigued by the trend towards integrated GRC platforms supported by best-in-class training content to better manage GRC initiatives – a vision shared by Global Compliance. Representing the final piece of the puzzle, Riverside recently entered into an agreement to acquire EthicsPoint pending shareholder approval.
Mark Reed, EthicsPoint, President & CEO, will assume the CEO position of the merged organizations. Shanti Atkins, ELT, President & CEO, will serve as the combined company’s President & Chief Strategy Officer. Jim Burke, Global Compliance, CEO, will serve on the company’s Board of Directors.
“This merger is truly a watershed event in the GRC industry, and I am energized to lead the combined company through this next phase of growth,” said Reed. “Collectively, the merged companies offer an unmatched level of experience and knowledge with a broad and complementary set of technology and content solutions to help global customers manage risk.”
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