UK security systems services company Marlowe plc (LSE: MRL) has announced that it has acquired Israeli compliance tools and training company VinciWorks for £39 million in cash and a further £15 million in milestone payments.
Jerusalem-based VinciWorks provides compliance eLearning software as a service (SaaS) and compliance management software. The company's 530 clients include 60 of the world's largest 100 law firms and it has annual revenue of £5.5 million of revenue and an adjusted EBITDA of £3.2 million, representing a 58% adjusted EBITDA margin.
VinciWorks’ subscription-based eLearning courses enable clients to implement compliance and ESG training across areas such as GDPR, anti-bribery, anti-money laundering, cybersecurity, tax evasion, modern slavery, code of conduct and health and safety. The company's Omnitrack software is a fully integrated SaaS compliance and risk management product which complements compliance eLearning by enabling clients to collect, analyze and report data across a broad range of enterprise-wide compliance issues.
Founded in 2003, VinciWorks has 31 employees and operations in both the UK and Israel, with 95% of revenues derived from the UK.
Marlowe CEO said, "VinciWorks advances our goal of becoming the market leader in governance, risk and compliance software and cements our position as the UK’s leading GRC compliance eLearning business."
Published by Globes, Israel business news - en.globes.co.il - on October 4, 2021
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