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CUBE acquires Thomson Reuters’ global regtech businesses

CUBE acquires Thomson Reuters RegTech, expanding its customer base and workforce, and enhancing its AI-driven regulatory compliance platform.

  • Marina Mouka
  • May 17, 2024
  • 2 minutes

CUBE, a global Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) provider, has made a significant move by acquiring Thomson Reuters Regulatory Intelligence and Oden products. This strategic acquisition not only broadens CUBE’s customer base to around 1,000 but also enhances its workforce to 600 employees, including 250 regulatory experts.

Ben Richmond, CUBE’s CEO, expressed his enthusiasm for the acquisition, stating “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”

Richmond continued, “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry.”

Innovation and scale

CUBE’s acquisition spree, including New York-based Reg-Room and AI-driven data capture firm The Hub, is a testament to its commitment to innovation and scale. The integration of Thomson Reuters’ expertise with CUBE’s advanced AI technology promises to transform regulatory capabilities for global customers.

Chris Maguire, General Manager at Thomson Reuters, commented: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.”

This expansion strategy aligns with CUBE’s growth strategy, following its own acquisition by European investor Hg in March. The goal is to expand CUBE’s global presence and create an industry-defining platform. While the terms of the Thomson Reuters deal were not disclosed, the impact is clear: CUBE is poised to offer an expanded selection of specialised regulatory intelligence and change services, setting a new bar for the industry.