Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, has announced the acquisition of London-based World- Check, a leading global provider of financial crime and corruption prevention information. Terms of the deal were not disclosed.
Financial crime and corruption prevention is one of the fastest- growing areas of regulatory risk. Businesses are facing more risks - and scrutiny - than ever, and governments and regulators around the world are increasing the level of compliance and inspection, particularly around fraud, bribery and sanctions. World-Check provides information that profiles entities and individuals and is used in the due diligence processes of the international business community. More than 5,400 clients in over 150 countries, including
49 of the world's top 50 banks, 200 enforcement and regulatory agencies, and 45 of the world's top 100 corporations, rely on the World-Check database.
World-Check will be part of the Governance, Risk & Compliance (GRC) business of Thomson Reuters, which provides global financial institutions, corporations and law firms with the information and tools necessary to navigate today's heightened regulatory landscape.
Chief Executive Officer Dan Peak will continue to lead the World- Check executive team, and will report to David Craig, president, GRC.
"Growing our presence in the GRC sector is a key strategic priority for Thomson Reuters, and the addition of World-Check will extend our presence in the important and fast-growing financial crime and corruption prevention segment," said Craig. Earlier this year, the company introduced Thomson Reuters Accelus - a comprehensive suite of information, software and services for professionals in compliance, audit, legal, mergers and acquisitions, and risk functions in an organization.
"Managing risk across the enterprise is a key concern for our customers," said Thomas H. Glocer, chief executive officer of Thomson Reuters. "I'm pleased we have secured this excellent opportunity to reinvest some of the proceeds of our recently announced dispositions as we pursue our global growth strategy."
"World-Check affirms and accelerates our commitment to deliver the information, software and services that help legal, compliance and risk professionals navigate an increasingly complex global risk and regulatory landscape," said Jim Smith, chief executive officer, Thomson Reuters Professional Division. "World-Check is a leader in this sector, and we're delighted that they are now part of the Thomson Reuters team."
"I am really excited about the new opportunities presented by the combination of Thomson Reuters and World-Check, which will enhance our ability to deliver world-class information services to help prevent financial crime and corruption," said Peak.