Diligent Completes Galvanize Acquisition, Becoming World’s Largest GRC SaaS Company
Acquisition creates a worldwide leader in SaaS that delivers greater organizational transparency into purpose-driven capitalism
NEW YORK, NY and Vancouver, BC. – April 7, 2021 – Diligent Corporation (“Diligent” or the “Company”), the modern governance company, today announced that it has completed its acquisition of Galvanize, a global leader in SaaS governance, risk, and compliance (GRC) software. Having also recently acquired Steele Compliance Solutions, Inc. (“Steele”), a leader in ethics and compliance software, Diligent is now the world’s largest GRC SaaS company with more than 1,500 employees and one million users. The financial terms of both transactions were not disclosed.
By integrating Galvanize and Steele into the Diligent modern governance platform, the Company is creating a comprehensive solution to meet its client’s GRC needs, from IT to the boardroom. The platform will help clients:
- implement and measure risk management and controls across the organization;
- enrich insights with best practice and external benchmarks while strengthening regulatory compliance; and,
- aggregate data into a holistic view for their leadership teams and board.
The combined company will serve more than 23,000 clients across all industries and provide concierge-level support built on market-leading customer satisfaction scores. Diligent will benefit from Galvanize’s robust partner network and its comprehensive “Leader” recognition from both Gartner and Forrester analysts. Touting over 80 integrations with leading technology partners, Galvanize will also accelerate Diligent’s seamless integration into customers’ existing technology stacks.
“Diligent is proud to be shaping the future of modern GRC by building an operating system for purpose-driven capitalism,” said Brian Stafford, CEO of Diligent. “We’re enabling visionary leaders to keep pace with the rising tide of stakeholder capitalism and make progress on ESG commitments. Clients can look forward to a completely integrated platform that covers risk, compliance, audit and governance, and drives enhanced visibility across the entire organization. We’re thrilled to have the talented Galvanize and Steele teams onboard and, together, look forward to creating a positive impact for our clients.”
“By joining Diligent, the clear market leader in its space with a board governance platform used by the leaders of today and tomorrow, Galvanize elevates the work of GRC professionals further into the boardroom,” said Laurie Schultz, President and CEO of Galvanize. “The combination will fast forward our vision of positioning GRC as a critical component of every enterprise through our category leadership.”
Credit Suisse served as the exclusive financial advisor, and Willkie Farr & Gallagher LLP served as the legal advisor to Diligent. Evercore served as the financial advisor, and Fasken Martineau DuMoulin LLP served as the legal advisor to Galvanize.
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About Diligent Corporation:
Diligent is the largest governance, risk and compliance (GRC) SaaS provider, serving more than one million users from over 23,000 organizations around the globe. Our modern GRC platform ensures boards, executives and other leaders have a holistic, integrated view of audit, risk, information security, ethics and compliance across the organization.
Diligent brings technology, insights and confidence to leaders so they can build more effective, equitable and successful organizations. We empower 62% of the Fortune 500, 90% of the FTSE 100 and 83% of the ASX 200 to improve their bottom line, keep pace with stakeholder expectations and create lasting, positive impact on the world.
For more information visit www.diligent.com.
Galvanize is the leading provider of award-winning, cloud-based security, risk management, compliance, and audit software for some of the world’s largest organizations. The integrated HighBond platform provides visibility into risk, makes it easy to demonstrate compliance, and helps grow audit, risk, and compliance programs without incurring extra costs. More than 6,300 organizations in 130 countries rely on HighBond to meet their objectives, including many Fortune 1000 and S&P 500 companies, hundreds of banks, manufacturers, and healthcare and government organizations. Whether managing threats, assessing risk, measuring controls, monitoring compliance, or expanding assurance coverage, HighBond automates manual tasks, blends organization-wide data, and broadcasts it in easy-to-share dashboards and reports. Learn more at wegalvanize.com.
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