EQS Group Bolsters U.S. Presence with OneTrust Ethics Business Acquisition
Deal News | Dec 10, 2024 | Thoma Bravo
EQS Group, a leader in cloud-based compliance and ethics solutions, has acquired OneTrust's ethics and compliance business, including the Convercent platform. The transaction significantly strengthens EQS Group’s position in the U.S. and expands its global business footprint. Previously developed by Convercent, the acquired platform provides comprehensive compliance management tools to over 1,000 clients worldwide. As part of the acquisition, EQS Group will retain the employees dedicated to the solution, further expanding its U.S. presence. This strategic move is centered on enhancing EQS Group’s ability to deliver innovative compliance management systems, as stated by Achim Weick, founder and CEO of EQS Group. On the other hand, OneTrust’s CEO Kabir Barday mentions that the transaction will allow them to focus on their core mission of responsible data and AI use. Goldman Sachs & Co. LLC and Wachtell, Lipton, Rosen & Katz served as advisors to OneTrust, while Kirkland & Ellis advised EQS Group.
Sectors
- Compliance and Ethics Management
- Data Privacy
- Technology
Geography
- United States – The acquisition enhances EQS Group's market reach in the U.S., where a majority of the employees for the acquired product division are based.
- Germany – EQS Group is headquartered here, demonstrating its expansion and strategy from the German market to the U.S.
Industry
- Compliance and Ethics Management – The acquisition involves companies that provide software solutions for compliance and ethics management, central to regulatory adherence and ethical operations across businesses.
- Data Privacy – Both EQS Group and OneTrust emphasize data privacy as a core component of their services, reflective of increasing regulatory requirements in global data management.
- Technology – Involvement of cloud software and comprehensive compliance tools places this transaction firmly within the technology sector.
Financials
- Not specified – The article does not specify the financial details of the transaction between EQS Group and OneTrust.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EQS Group | Buyer | Company | An international provider of compliance and ethics management software, looking to expand its presence and capabilities in the global market, particularly in the U.S. |
| OneTrust | Seller | Company | Software provider focusing on data privacy and security, divesting its ethics and compliance division to concentrate on data and AI responsibilities. |
| Convercent by OneTrust | Product | Company | An enterprise ethics and compliance management platform serving over 1,000 customers worldwide, now acquired by EQS Group. |
| Goldman Sachs & Co. LLC | Financial Advisor to OneTrust | Company | Provided exclusive financial advisory services for the sale of OneTrust's ethics and compliance division. |
| Wachtell, Lipton, Rosen & Katz | Legal Advisor to OneTrust | Company | Provided legal advisory services in the transaction involving the sale of OneTrust's division to EQS Group. |
| Kirkland & Ellis | Legal Advisor to EQS Group | Company | Provided legal advisory services to EQS Group for the acquisition process. |
| Achim Weick | CEO of EQS Group | Person | Responsible for leading EQS Group’s strategic expansion through this acquisition. |
| Kabir Barday | CEO of OneTrust | Person | Steered OneTrust in divesting its ethics and compliance business to allow the company to focus on its core areas of data governance. |