Exiger, the SaaS company revolutionizing the way corporations, government agencies and banks manage supply chains, announced that it has signed an agreement with Capgemini, a leading business and technology transformation services company, for the sale of its market-leading Financial Crime Compliance (FCC) division. The transaction is due to close in the coming months.
This comes at a time when Exiger is experiencing accelerated growth and penetration in the third-party risk and supply chain management software market.
Founded in 2013, the FCC division of Exiger comprises a team of experts with offices in North America, EMEA and APAC. This team specializes in advisory, analytics and managed services relating to anti-money laundering, Know Your Customer (KYC), anti-bribery & corruption, suspicious activity monitoring, sanctions, transaction monitoring, and fraud. Exiger’s client roster is highly complementary to Capgemini’s and includes major players in banking, capital markets and fintechs.
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“This sale marks an enormous milestone in the evolution and growth of Exiger,” said Exiger CEO Brandon Daniels. “Capgemini’s acquisition allows us to focus on our core third-party risk and supply chain management technology business, reinforcing our strength, market leadership and accelerated growth. As we continue to invest in cutting edge AI solutions for our customers across the public and private sectors, we’re thrilled that our market-leading advisory team will be able to continue the next leg of their growth journey with such a distinct leader in their space.”
“Financial crime compliance requirements are evolving at pace so financial institutions are looking to adopt data driven, technology enabled solutions to support their end-to-end FCC transformation,” comments Anirban Bose, CEO of Capgemini’s Financial Services and Group Executive Board Member. “The deep domain expertise of the FCC Division of Exiger will help us to further address growing client demand for these services. I am delighted to welcome them to our team.”
TD Cowen served as exclusive financial advisor and Dechert LLP served as legal counsel to Exiger on the transaction.
SOURCE: PRNewswire