EQS Group, a leading provider of cloud software for regulatory compliance and ethics, has taken a strategic step by acquiring the compliance and ethics division of OneTrust. This transaction includes the Convercent by OneTrustR platform and represents a significant expansion of EQS in the global market, particularly strengthening its position in the competitive U.S. environment.
The platform, originally developed by startup Convercent, offers advanced solutions for corporate ethics management and regulatory compliance. Currently, it serves over 1,000 clients from various industries around the world. Its functionalities include whistleblowing, management of ethical policies, information disclosure, as well as analysis and learning tools, making it a comprehensive tool for companies looking to enhance their ethical culture and compliance with regulations.
With this acquisition, EQS plans to integrate and enhance the platform using its compliance technology expertise, ensuring efficient and high-quality service for all its clients. Throughout the process, the company has ensured that it will retain all key personnel of this solution, with a focus on strengthening its presence in the United States, where the majority of the Convercent team is located.
Achim Weick, founder and CEO of EQS Group, expressed his excitement about incorporating the talented team located in the United States, India, the United Kingdom, and Spain. He emphasized his ongoing commitment to developing innovative regulatory compliance management systems that foster trust and promote an ethical organizational culture.
Meanwhile, Kabir Barday, founder and CEO of OneTrust, stated that this business transfer will offer their current clients an enhanced platform and a high-level partner. It will also allow OneTrust to more actively focus on its core mission of promoting the responsible use of data and artificial intelligence.
The increasingly complex regulatory landscape is a constant challenge for companies. However, EQS has positioned itself as a strategic partner by facilitating regulatory compliance through digitizing and automating processes, which not only optimizes their legal obligations but also enhances transparency and trust with their stakeholders.
The transaction was advised by Goldman Sachs & Co. LLC and the law firm Wachtell, Lipton, Rosen & Katz on behalf of OneTrust. In contrast, Kirkland & Ellis provided legal advice to EQS Group.
Founded in Munich in 2000, EQS Group is recognized for serving over 10,000 global companies in areas such as data privacy management, sustainability, and investor relations. Their products integrated in the EQS COCKPIT cloud platform enable effective compliance management in various corporate processes. EQS developments not only facilitate compliance with regulations such as GDPR and the EU AI Act, but also support sustainability management and reporting. With a team of 550 professionals, EQS continues to establish itself as an international reference in its sector.
Referrer: MiMub in Spanish
