Ncontracts snaps up Quantivate for an undisclosed sum

Acquisition Announcement:
- Ncontracts, a US-based risk, vendor, and compliance management software provider, has acquired Quantivate.
Strategic Move:
- Ncontracts aims to strengthen its position in the US market and enhance its offerings by acquiring Quantivate, a company founded in 2005 providing governance, risk, and compliance (GRC) solutions for banks and credit unions.
Expansion Plans:
- The acquisition is expected to increase Ncontracts’ workforce to 350 employees, consolidating a customer base of over 4,000 financial institutions.
Leadership Continuity:
- Michael Berman, the CEO of Ncontracts, will continue his role as CEO of the combined entities, ensuring continuity in leadership.
Undisclosed Terms:
- While the financial terms of the acquisition remain undisclosed, both companies express commitment to helping financial institutions reduce risk, improve compliance, and control costs.
Shared Vision:
- Ncontracts and Quantivate share a mutual commitment to empowering financial institutions, combining resources to provide enhanced software and services for customers in the financial industry.
Mutual Benefit:
- Quantivate highlights that the combined entity will bring together resources and services to improve and enhance the customer experience for their mutual clients.