Castanea Partners and Weston Presidio have agreed to sell Integrity Interactive, a Waltham, Mass.-based provider of compliance and ethics solutions, to SAI Global Ltd. (ASX: SAI). No financial terms were disclosed.
SAI Global Limited (ASX: SAI) today announced that it has entered into an agreement to acquire Integrity Interactive, a leading Compliance and Ethics solutions provider, subject to US regulatory approval.
Integrity Interactive helps some of the world’s largest companies build and maintain ethical cultures, reduce legal risk and enhance business results by partnering on compliance and ethics program scope and design, employee communications and awareness building and third party risk management. SAI Global’s Compliance Division, with headquarters on three continents, is dedicated to assisting companies around the globe improve and enhance their compliance and risk management programs with their award-winning compliance and ethics library, exemplary client services and state of the art compliance management enabling technology.
In a business environment that is evolving at an unprecedented rate, compliance and ethics professionals require partnerships that are based on a deep understanding of the business and regulatory environment, state of the art technology, and ways to communicate with employees and third parties that are engaging, efficient and effective. The combined business, in addition to their complementary strengths with hundreds of courseware titles translated into up to 40 languages, will focus on delivering standalone and integrated world class products and services to meet these challenges.
SAI Global’s Global Head of Compliance and Information Services, Andy Wyszkowski, said, “Integrity Interactive is a valued partner to some of the strongest and most recognizable brands in the world. These companies rely on Integrity Interactive to help them build and maintain ethical and successful business cultures.” He added, “We have always had great respect for Integrity’s deep product line, advisory services capabilities and vision in understanding the challenges of managing third party risk. We look forward to partnering with all SAI Global and Integrity Interactive clients to meet the challenges of today’s business environment.”
Integrity Interactive’s Chief Executive Officer, Tom Anderson, added, “SAI Global is the ideal partner for us. Their reputation for quality is unsurpassed and they have the most advanced courseware in the market. Our goal of providing the most effective ethics and compliance solution is dramatically enhanced through a combination with SAI Global. We’re confident that our clients will greatly benefit by their strategic vision, technology expertise, global presence and understanding of the evolving needs of our market.”
Both Integrity Interactive and SAI Global clients can expect to continue to experience uninterrupted support for their existing services and can look forward to exciting new announcements resulting from the complementary strengths of these two companies in the future.
About SAI Global Compliance
For twenty-five years, SAI Global Compliance (www.saiglobal.com/compliance) clients have built stronger corporate cultures and more effective all-around programs with our compliance, risk management and governance solutions. With offices in more than 25 countries, SAI Global provides risk and culture assessments; Code of Conduct reviews and training; award-winning, innovative online training; training needs assessments; helpline, ethics reporting and case management solutions; risk- and region-specific updates, databases, regulatory alerts and newsfeeds; and technology solutions that integrate and connect all aspects of a compliance program.
About Integrity Interactive
Based in Waltham, MA (USA) Integrity Interactive (www.integrityinteractive.com) was founded in 1999 to provide compliance and ethics online training to multinational companies. In 2006 Integrity Interactive was acquired by Weston Presidio and Castanea Partners. In March, 2008, Integrity Interactive announced the availability of the first and only web-based service that lets a company drive its code of ethics into its global supply chain. In September, 2008, Integrity Interactive announced the acquisition of Software Impressions, LLC, a privately-held software company extending Integrity’s offering into the technology needed to support the compliance and ethics function. And in April, 2010, they announced a partnership whereby LINE Communication, a UK-based firm, would provide the content for a new series of European courses intended to cover the key corporate risk areas of Anti-Bribery, Competition, Mutual Respect, and Data Protection. Integrity Interactive was advised on this transaction by BofA Merrill Lynch and Marks Baughan & Co.
About Castanea Partners
Castanea Partners (www.castaneapartners.com) is a private equity firm that invests in small and middle market companies in information services, education, marketing services, consumer brands, and specialty retail. The firm has extensive operating and private equity investment experience in these sectors and, working closely with management, seeks to optimize business performance and realize attractive returns. Castanea participates in leveraged buyouts, growth and acquisition equity investments, and operationally challenging situations. The firm is currently investing from its third fund, a $575 million fund that targets companies with enterprise values up to $250 million.
About Weston Presidio
Weston Presidio (www.westonpresidio.com) is a leading private equity firm focused on growth capital investments across a range of sectors including business services, manufacturing and industrial, and consumer and retail. Since its founding in 1991, it has managed five investment funds aggregating over $3.3 billion. The Weston Presidio team has helped identify, build and maximize value in over 300 leading growth companies.