Riskonnect Expands Dynamically With Strategic Acquisitions

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Riskonnect Expands Dynamically With Strategic Acquisitions

Thoma Bravo's acquisition of Riskonnect in 2017 marked a pivotal moment for the risk management solution provider's growth and strategic positioning. The investment firm’s backing has enabled Riskonnect to capitalize on the growing convergence of traditional risk management; governance, risk and compliance (GRC); and environmental, health and safety (EHS) solutions in the market. Reflecting this trend, Riskonnect has accelerated advancements in its integrated risk management (IRM) platform: a holistic approach that has become essential for delivering comprehensive risk management in today’s increasingly complex business environment. Thoma Bravo's involvement has been instrumental in driving Riskonnect's expansion, facilitating the acquisition of six major firms from 2020 onwards, significantly broadening its product offerings and capabilities.

Riskonnect achieved a notable 66% brand awareness score in the 2023 Verdantix risk management brands awareness survey, underscoring the positive impact of its recent acquisitions on financial performance, risk management capabilities and brand visibility. Building on this momentum, Riskonnect completed two major acquisitions in the first half of 2024: Ventiv in January and Camms in June. These strategic moves were designed to fuel growth and innovation, providing customers with a comprehensive solution for managing all facets of risk in one platform. Additionally, these acquisitions significantly expanded Riskonnect's global presence, particularly across Australia, New Zealand and the broader Asia-Pacific region. Following this, we anticipate further increases in the firm's brand recognition and market influence.

As organizations face increasingly complex risk landscapes, the desire for comprehensive, all-in-one solutions has never been greater. The success of Riskonnect’s barrage of acquisitions may signal further consolidation in the market, as vendors attempt to deploy the same strategy to deliver more integrated solutions.

For more information on the GRC software landscape, check out Verdantix Buyer’s Guide: Governance, Risk And Compliance Software (2024).

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Industry Analyst

Elizabeth is an Industry Analyst in the Verdantix Risk Management practice. Her current research agenda focuses on enterprise risk management, risk management information systems, organizational and strategic resilience, and global risk management trends. Prior to joining Verdantix, Elizabeth worked in corporate risk management roles across the financial and tech industries, where she gained hands-on experience of executing risk management strategies. She holds an MBA degree with a specialty in finance from the University of Lagos.