Diginex Bolsters Cybersecurity and Compliance Capabilities with Acquisition of Findings
Diginex, a company offering sustainability solutions, buys Findings, a supply chain risk platform, for a whopping $305 million.
In a significant move, Diginex, a leading Sustainability RegTech company, has announced its agreement to acquire Findings, a supply chain risk monitoring platform, for up to $305 million.
The deal, valued at $270 million in shares and up to $35 million in cash, will see Diginex integrate Findings' expertise in AI-driven vendor risk management (VRM), real-time cloud audits, and API-based verification automation solutions.
Findings, a U.S. and Israel-based company founded by CEO Kobi Freedman and CTO Jonatan Perry, provides solutions for cybersecurity, ESG performance, and compliance readiness in the supply chain and regulatory domains.
Kobi Freedman, in a statement, mentioned that the partnership will accelerate growth and extend mutual offerings with supply chain cybersecurity automation solutions. He also highlighted that the transaction will enable Findings to provide customers with cutting-edge technology for supply chain risk and compliance management.
Enhanced Compliance and Risk Management Capabilities
The combined technological and cybersecurity capabilities of Diginex and Findings will enhance overall compliance and risk management capabilities. The integration will strengthen Diginex's award-winning platforms like diginexESG, diginexLUMEN, and diginexAPPRISE with advanced supply chain risk monitoring and vendor risk automation tools.
Impact on Supply Chain Risk Management
The combined capabilities will significantly enhance supply chain risk management by integrating AI-driven tools for real-time monitoring and prediction of potential risks within the supply chain, allowing for proactive management. The integration will also align sustainability goals with regulatory compliance, ensuring that both environmental and operational resilience are maintained.
Impact on Vendor Risk Automation
The acquisition will also enhance vendor risk automation by automating the assessment of vendor risks, reducing manual effort and increasing accuracy. Continuous monitoring of vendor performance will ensure that any risks are identified and addressed promptly.
Findings CEO Kobi Freedman expressed excitement about joining forces with Diginex, stating that the partnership will deliver greater value to organizations navigating complex regulatory landscapes.
Miles Pelham, Chairman of Diginex, made a statement regarding the acquisition, but no specific statement was provided in the text. The proposed acquisition aims to integrate Findings' AI vendor risk management, real-time cloud audits, and monitoring, API-based verification automation, and secure data sharing into Diginex's platforms.
In addition to the acquisition, Diginex has agreed to provide further growth funding to Findings post-closing, based on agreed performance metrics. The acquisition includes $20 million that is subject to an earn out based on the achievement of financial targets.
The combined entity will offer comprehensive cybersecurity and compliance automation solutions, positioning Diginex as a leader in managing supply chain risks and vendor risks in the era of blockchain and digital assets.
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