HomeBankingNcontracts snaps up Quantivate for an undisclosed sum

Ncontracts snaps up Quantivate for an undisclosed sum

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  • 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.
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