- Acquisition by Corlytics: Corlytics, an Irish regulatory intelligence and policy compliance technology firm, has acquired an undisclosed digital regtech platform from Deloitte UK.
- Functionality of the Deloitte UK Regtech Platform: The acquired platform serves as a regulatory management solution aimed at improving how corporations manage, structure, and source compliance and regulatory change.
- Enhancement of Corlytics’ Capabilities: Corlytics states that the acquisition will add considerable breadth and domain expertise to its existing capabilities. The platform will enable users to find, interpret, understand, and accurately implement regulatory change, from mapping policies to interpreting regulatory changes and controls.
- Investment from Verdane: Corlytics recently received a significant investment from Norwegian venture capital firm Verdane through its €1.1 billion Edda III Fund, prior to the acquisition.
- Expansion and Ambitions: The acquisition is expected to expand Corlytics’ reach in Europe and the US, aiming to strengthen its applicability not only for global corporations operating in financial services but also in sectors such as Pharma and Big Tech.
- Comment from Corlytics CEO: John Byrne, CEO of Corlytics, sees the acquisition as taking the relationship between Corlytics and Deloitte UK to the next level. He emphasizes their ambition to set a new standard for how compliance is managed beyond intelligent data solutions.
- Expansion of Corlytics’ Portfolio: This acquisition contributes to Corlytics’ expanding portfolio of recent purchases in the regtech sector, including UK-based Software-as-a-Service (SaaS) firm Clausematch and the regulatory lifecycle platform ING SparQ.
