Riskonnect buys rival RMIS provider Ventiv

Riskonnect, which is backed by private equity firm TA Associates, has acquired rival risk management information services (RMIS) provider Ventiv Technology.

Terms of the transaction were not disclosed.

TA Associates provided additional capital for the acquisition and will continue as Riskonnect’s majority owner.

Riskonnect is an integrated RMIS provider. Ventiv’s services include claims administration and billing and policy solutions, alongside help with enterprise risk management.

The entire Ventiv team will join Riskonnect, which has more than 1,200 employees in the Americas, Europe and Asia.

Ventiv, which is backed by private equity firm Tailwind Capital Group, has 400 global employees. Salil Donde, former CEO of Ventiv, has left the company.

The combined firm will have more than 2,500 customers globally.

Riskonnect has made a series of acquisitions in recent years. In 2022, it bought Castellan, a global provider of enterprise resilience management solutions, and Sword GRC, a governance, risk and compliance company based in the UK.

It acquired rival RMIS provider Marsh ClearSight, formerly a unit of Marsh, in 2018.

“We’re thrilled to welcome the entire Ventiv team to Riskonnect. The acquisition adds substantial value for our customers, giving users of both companies access to a broader range of products and services that are intentionally designed to meet the diverse needs of modern risk management,” said Jim Wetekamp, Riskonnect’s CEO.

“We’re bringing a value-enhancing suite of tools to market that equips organisations to confidently answer the increasingly imperative question – ‘how at risk are we?’. Our complementary technologies and shared commitment to helping customers stay ahead of the rapidly evolving risk landscape positions all our key stakeholders for success,” he added.

Donde said Ventiv shares Riskonnect’s mission to transform the way companies manage risk. “Pooling our resources and expertise enables us to continue to innovate on AI-driven predictive analytics and expand our reach globally to best serve the present and future needs of our customers,” he said.

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