Ncontracts, a Brentwood, Tenn.-based provider of integrated compliance, risk, and vendor management solutions to the financial services industry, acquired Quantivate, a Bothell, Washington-based provider of governance, risk, and compliance solutions for banks and credit unions.
Terms of the transaction were not disclosed.
Quantivate has provided web-based governance, risk, and compliance software and service solutions to organizations of all sizes since 2005. Since then, the company has grown to feature a full suite of GRC modules, including business continuity, vendor management, enterprise risk, management, information technology, risk management, internal audit, compliance management, policy & document management, complaint management, and issue management.
Led by Michael Berman, CEO, Ncontracts provides integrated risk, vendor and compliance management software to a customer base of over 4,000 financial institutions and mortgage and financial technology companies in the United States. The company’s combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly cloud-based solution suite encompassing vendor, organizational, audit, and compliance risk management. Ncontracts is a portfolio company of Gryphon Investors.
With the addition of Quantivate, Ncontracts will have a customer base of over 4,000 financial institutions and 350 employees.