POLICYTECH JOINS NAVEX GLOBAL TO FORM SINGLE SOURCE FOR ETHICS AND COMPLIANCE
Rexburg, Idaho – June 21, 2012 – Building upon its offerings for the governance, risk management and compliance (GRC) industry, Policy Technologies International, Inc. (PolicyTech) today announced that it has been acquired by the newly established company, NAVEX Global, to address a key pain point in GRC management through user-friendly technology. The combined companies under NAVEX Global will provide a unified platform to help national and multinational organizations manage adverse risks, enhance their corporate cultures, and safeguard brand equity and shareholder value.
PolicyTech offers a lauded software solution to help organizations easily communicate and track changes to policies and procedures across their businesses. PolicyTech helps both small and large organizations receive a significant return on their investment as they implement a system to increase operational efficiency and policy awareness.
“We are excited to join NAVEX Global to address our clients’ evolving ethics and compliance needs from a more strategic, broader perspective,” said PolicyTech CEO Rob Tietjen. “Our policy management platform will become part of a larger platform for advanced ethics and compliance programs.”
NAVEX Global offers predictive and actionable risk intelligence, as well as unmatched collective experience on GRC strategies to provide a comprehensive solution to managing organizational risk.
“As organizations seek to consolidate GRC processes to address complex enterprise risks, NAVEX Global brings together the best ethics and compliance offerings into a unified platform,” said Mark Reed, CEO of NAVEX Global. “The PolicyTech acquisition rounds out a critical part of our policy and procedure management offerings to aid national and multinational organizations.”
Private equity firm, The Riverside Company, played an integral role in bringing together PolicyTech, ELT, Inc., EthicsPoint, Inc., Global Compliance Services, Inc., and PolicyTech, to form NAVEX Global.
“We are excited to bring together four leading companies to offer organizations a strategic offering of GRC services in response to the ever-increasing regulatory environment," said Loren Schlachet, managing partner with The Riverside Company. “We have a deep commitment to the GRC industry as we understand that trust in organizations has a positive effect on shareholder value. We are proud to see NAVEX Global grow at an intense pace both organically and through add-on acquisitions.”
Terms of the PolicyTech deal were not disclosed.
Policy Technologies International, Inc. (PolicyTech™) is a leading developer and supplier of policy and procedure management software for all industries, including, but not limited to, healthcare, banking, corporate, university, and non-profit organizations. PolicyTech was recently listed as number 729 on Inc. 5,000's Fastest-Growing Companies and is poised to continue automating the ever growing complexity of regulatory requirements through policy automation.
NAVEX Global (www.navexglobal.com)
NAVEX Global is the trusted global ethics and compliance intelligence expert for more than 7,500 clients in over 200 countries. A merger of industry leaders ELT, EthicsPoint, Global Compliance Services and PolicyTech, NAVEX Global now provides the world’s most comprehensive suite of solutions to manage governance, risk and compliance.
Simmi Singh Corcoran
NAVEX Global PR Manager
Back to News & Events