Exiger, the Software as a Service company revolutionizing how corporations, government agencies and banks manage supply chains, today announces that it has entered into an agreement with Capgemini, one of the world’s largest companies providing Business and Technology Transformation Services to sell its market leading Financial Crime Compliance Division. In the next few months, a transaction is scheduled to close.
At a time when Exiger’s growth and penetration within the third party risk and supply chain management software market are increasing, this comes as an indication of its growing importance.
A team of experts with offices in North America, EMEA and APAC has been set up within Exiger’s FCC Division since 2013. The team specializes in advisory, analytical and management services related to anti-money laundering, Know Your Customer KYC, antibribery and corruption, suspicious activity monitoring, sanctions, fraud detection. The client list of Exigers contains important players from the banking and capital markets as well as financial technology services, making it highly comparable to Capgemini.
The sale has been a great step forward in Exiger’s development and growth,” stated Exiger CEO Brandon Daniels. Our acquisition of Capgemini allows us to focus on our core business in third party risk management and supply chain technology, reinforcing our strengths, market leadership and accelerated growth. We are delighted that our market leading advisory team will be able to continue the next phase of their growth journey with such a distinguished leader in space, as we continue to invest in cutting edge AI solutions for our customers in the public and private sectors.
The requirements of complying with the crime regulations are increasing at a pace, Anirban Bose, Capgemini’s Financial Services Group Chief Executive Officer and Member of its Management Board comments,” which makes it imperative for financial institutions to adopt data driven, technology enabled solutions that support their end-to-end FCC transformation.” We will be assisted in addressing increasing client needs for these services through our deep domain expertise at Exiger’s FCC Division. It is my pleasure to welcome them as part of our team.
In the transaction, TD Cowen acted exclusively as financial adviser and Dechert LLP acted as legal advisor to Exiger.