Riskonnect, a provider of risk management (IRM) solutions, has acquired Pennsylvania-based Castellan Solutions, which offers enterprise resilience management solutions.
The financial terms of the deal were not revealed.
According to Riskonnect, the acquisition advances its vision of integrated risk management of bringing every aspect of risk under a single roof by incorporating capabilities in business continuity and operational resilience seamlessly into its platform.
Riskonnect CEO Jim Wetekamp said: “Castellan’s emphasis on business continuity and resilience is a natural fit with Riskonnect’s goal of giving customers complete visibility into risk exposure and transforming the way they manage and respond to risk.
“The addition of Castellan’s deep expertise and innovative software and services will enable Riskonnect to deliver unmatched value to our customers, expand our consulting and managed service offerings, and continue to grow globally.”
Castellan’s resilience management solutions are said to span consulting, staffing, software, and managed services. It is said to serve over 750 customers in more than 30 countries and has a workforce of 130 people.
Its acquisition by Riskonnect is expected to accelerate the growth objectives of the two companies by providing customers with more risk and compliance offerings.
Customers of Riskonnect will get access to Castellan’s solutions for business continuity and operational resilience. Castellan’s customers, on the other hand, are said to gain from Riskonnect’s expanded IRM product capabilities, deep multi-industry domain expertise, and global support infrastructure.
Castellan CEO Jon Ezrine said: “Riskonnect shares our relentless commitment to customer success and equipping risk and compliance teams with the best tools to protect their organizations and successfully recover from disruptions.
“Our customers will gain access to an unparalleled integrated risk management solution through this acquisition, as well as to a tremendous community of peers and partners that comes with a globally recognised leader such as Riskonnect.”
