Riskonnect, the leader in integrated risk management (IRM) solutions, announces its acquisition of Ventiv Technology, a market-leading provider of risk, insurance, and underwriting technology solutions. The acquisition fuels growth and innovation for Riskonnect and drives value for customers by enabling the organizations to bring all aspects of risk under one roof.
Riskonnect’s acquisition of Ventiv will enhance value for the 2,500+ combined customers globally. Ventiv is known for its innovation in RMIS Analytics (Artificial Intelligence/Machine Learning, Benchmarks, Geospatial), claims administration, billing, and policy solutions. Customers rely on Riskonnect for the breadth and depth of its integrated risk management platform. The combined offerings will create a comprehensive suite of risk management tools that streamlines data management, provides actionable insights tailored to specific business sectors, and turns risk into a strategic advantage.
“We’re thrilled to welcome the entire Ventiv team to Riskonnect. The acquisition adds substantial value for our customers, giving users of both companies access to a broader range of products and services that are intentionally designed to meet the diverse needs of modern risk management,” said Jim Wetekamp, Riskonnect’s CEO. “We’re bringing a value enhancing suite of tools to market that equips organizations to confidently answer the increasingly imperative question – ‘how at risk are we?’. Our complementary technologies and shared commitment to helping customers stay ahead of the rapidly evolving risk landscape positions all our key stakeholders for success.”
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The companies’ combined expertise and technology across incident tracking, claims administration, claims management, governance, risk, and compliance (GRC), business continuity and resilience, and predictive analytics creates a one-stop-shop for organizations seeking end-to-end risk solutions.
“We share Riskonnect’s mission to transform the way companies manage risk,” said Salil Donde, Ventiv’s CEO. “Pooling our resources and expertise enables us to continue to innovate on AI-driven predictive analytics and expand our reach globally to best serve the present and future needs of our customers.”
Riskonnect’s current majority investor, TA Associates (TA), a leading global private equity firm, supported the acquisition of Ventiv with additional investment capital. TA will continue as the majority owner. Union Square Advisors LLC served as the exclusive financial advisor to Ventiv and Davis Polk & Wardwell served as legal advisor. Kirkland & Ellis LLP served as legal advisor to Riskonnect.
“By joining forces, Riskonnect and Ventiv Technology, both recognized as industry leaders in the Redhand RMIS Report, are not only consolidating their technological expertise but also strengthening their commitment to providing leading RMIS solutions to customers seeking to optimize their risk management strategies,” said Patrick O’Neill, president and founder of Redhand Advisors.
SOURCE: BusinessWire