In a statement today, Chase Cooper Limited announced that it is acquiring 100% of the equity in dbs Financial Systems Limited to consolidate its position as the market leader in Compliance Solutions, particularly for Basel II Operational Risk.
Chase Cooper has been pioneering in the Operational Risk space to become the only supplier of a complete end-to-end Basel II compliant solution in the market.
The founders and directors of Chase Cooper, John Kiddy and Zag Asghar said, "We are in a market where there is still considerable uncertainty as to the most effective approach and execution of a Basel II solution for financial firms. We have de-mystified the key issues and provided our clients with a logical Basel II road map with practical business solutions that give genuine results rapidly. With our acquisition of dbs Financial Systems, the combined intellectual capital and solutions for Operational Risk makes Chase Cooper a formidable force in this market. We are delighted to welcome dbs Financial Systems into Chase Cooper and the positive contribution the company and its professionals will make as our Centre of Excellence for Operational Risk and business solutions development."
Daryl Walmsley, managing director of dbs Financials Systems said, "Our decision to join Chase Cooper was based on its innovative value propositions, the quality of their professionals and business approach in the market. We are delighted to be a key part of Chase Cooper and look forward to making a considerable difference in the market. With our combined strengths, we have raised the bar substantially for our competitors in the Operational Risk space and aim to capitalise significantly on our position of strength in 2005"
Commercial details of the acquisition have not been disclosed.