Nasdaq set to sell BWise to SAI Global
Until the closing of the transaction, SAI Global and BWise will continue to operate as independent companies.
Nasdaq Inc (NASDAQ:NDAQ) is set to sell its enterprise governance, risk and compliance (GRC) software platform BWise. The relevant announcement was made by Nasdaq earlier today, although no financial details about the transaction were unveiled.
Nasdaq said it had entered into agreement to sell BWise to SAI Global Pty Limited, an integrated risk management solutions expert. The closing of this transaction is subject to regulatory approvals, works council and other representative body consultations and notifications in applicable jurisdictions, and customary closing conditions. The deal is projected to be finalized in the first half of 2019.
BWise was established in 1994 and acquired by Nasdaq in 2012. Its enterprise GRC software platform and Risk Intelligence services and solutions help companies drive process efficiencies, enhance accountability, and reduce costs, resulting in improved decision making within an organization’s Enterprise Risk Management program. These solutions support companies of all sizes with operational risk management, internal audit, internal control, compliance, and information security programs.
SAI Global helps organizations proactively manage risk to create trust and achieve business excellence, growth, and sustainability. The company’s integrated risk management solutions operate across their customers’ entire risk lifecycle, thereby offering a strategic alignment opportunity with the BWise product suite.
“This transaction is a result of Nasdaq’s renewed corporate strategy to concentrate our resources, people, and capital to maximize our potential as a technology and analytics provider to the capital markets, while also investing to enhance our leading marketplaces and the capital market clients we serve,” said Adena Friedman, President and CEO, Nasdaq. “SAI Global is the right partner for BWise, and we are confident in their ability to ensure BWise’s clients continue to receive excellent customer service and even more comprehensive risk and compliance services and solutions in the future.”
“We are excited about having SAI Global as our new partner and look forward to being able to accelerate our strategic vision as we continue to serve our clients amidst a fast-changing risk and compliance landscape,” said Jonathan Deeks, CEO, BWise. “By joining forces with SAI Global, we have a unique opportunity to drive change at a massive scale and reshape the industry.”
Until the closing of the transaction, SAI Global and BWise will continue to operate as independent companies.
