Confluence Technologies set to acquire Compliance Solutions Strategies
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Confluence Technologies set to acquire Compliance Solutions Strategies 15 November 2021US Reporter: Jenna Lomax
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Confluence Technologies, the Pittsburgh-based technology solutions provider, is to acquire Compliance Solutions Strategies (CSS), a global regtech company.
Founded in 2017 and headquartered in New York, CSS offers clients a global regtech platform, underpinned by its proprietary Regulatory Book of Record data management solution.
Servicing more than 600 clients globally, CSS offers SaaS-driven technology solutions and regulatory knowledge to support the investment management community.
This acquisition is part of an effort to expand Confluence鈥檚 regulatory compliance offering. The transaction is expected to close in the fourth quarter of 2021.
Confluence is backed in the acquisition by Clearlake Capital Group, together with its affiliate TA Associates.
Doug Morgan, CEO of CSS, comments: 鈥淲e are excited to join forces with Confluence to create an unmatched regulatory compliance platform of scale, resilience, and global reach. This combination will accelerate the efforts of both organisations in driving the digital transformation of regulatory compliance for our clients.鈥�
Mark Evans, CEO of Confluence says: 鈥淐onfluence is pleased to welcome CSS to the team as we look to deliver on our growth strategy. We have long respected their SaaS-based solutions and admire their depth of in-house regulatory expertise.
He adds: 鈥淲e see tremendous demand in this space as global regulators continue to refine and expand compliance and reporting obligations, furthering the need in the market for technology that streamlines operational efficiencies and drives scale.鈥�
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