EQS Group, a corporate compliance, investor relations, and sustainability reporting cloud software provider, said that it has entered into exclusive discussions to acquire French GDPR and anti-corruption compliance software provider Data Legal Drive.

Established in 2018, Data Legal Drive provides tailored solutions for GDPR and anti-corruption compliance, helping organisations navigate the complex landscape of data protection and regulatory requirements.

Data Legal Drive founder and CEO Sylvain Staub said: “With the experience of EQS Group in building a comprehensive compliance platform, we believe they are the ideal partner for our next stage of growth. Our strategy is to become the leader in compliance in Europe.

“Given the potential of our respective targets, we were convinced that EQS Group was what we were looking for to achieve significant growth in this business. The power of our combined expertise and services, both in compliance and digital innovation, will bring immense additional value to our customers.”

Through the deal, EQS Group aims to bolster its position in the European compliance software-as-a-service (SaaS) market. The acquisition is also expected to boost the company’s offering particularly in the area of data protection and GDPR compliance.

EQS Group also intends to gain valuable insight and experience from Data Legal Drive’s legal and technology expertise. This will offer significant synergies with EQS Group’s product portfolio and customer base.

Besides, Data Legal Drive will be able to utilise EQS Group’s industry experience and position in the RegTech and compliance space.

The GDPR and anti-corruption compliance software provider will also focus on consolidating its offerings around artificial intelligence (AI) and the new regulations introduced by the EU AI Act.

According to EQS Group, the transaction will be finalised in the coming weeks.

EQS Group also said that there are no current plans to change the services used by existing Data Legal Drive customers.

EQS Group founder and CEO Achim Weick said: “The acquisition of Data Legal Drive will be a significant milestone for EQS Group and will bolster our expertise, particularly for GDPR compliance.

“Since the regulation came into force in 2018, the cumulative fines exceeded €4 billion, highlighting the ongoing demand for GDPR support.

“With our collective track record in compliance and technology innovation, we will be in an ideal position to expand our services and address our customers’ compliance needs even more comprehensively.”