Nordic Capital acquires RegTech from BearingPoint
It most certainly appears that regulatory technology is investible by large VCs
Nordic Capital is to acquire BearingPoint’s RegTech business, a regulatory reporting platform used by more than 6000 firms including banks, insurance companies and supervisory authorities.
Founded over 25 years ago, RegTech is headquartered in Frankfurt, and has 17 offices across 10 countries with a total workforce of approximately 630 employees. The company is expected to generate revenues of close to EUR 100 million in 2020.
Nordic capital says it will retain the current management team and invest in the company’s continued product development and international expansion plans.
Jürgen Lux, CEO of RegTech, says: “Together with Nordic Capital, we have formed an ambitious growth agenda and will continue to invest in our proven, reliable, and forward-looking software solution suite to extend our footprint in our core markets. Our vision is to become one of the strongest international players in the RegTech space.”
BearingPoint will continue to serve as a strategic consulting partner and will retain a minority stake in the company.
The terms of the transaction were not disclosed.