Diligent Inc has acquired 3rdRisk, Europe's leading cloud platform for third-party risk management and compliance operations, for an undisclosed amount. This strategic move sees Diligent Inc buying the Amsterdam-headquartered company, integrating its advanced capabilities into Diligent's existing portfolio.
3rdRisk provides an intuitive cloud platform designed to help organizations effectively identify, assess, and monitor a broad spectrum of supplier risks, including cybersecurity, sustainability, legal, and compliance. The platform addresses the limitations of traditional, often manual or disjointed risk management methods. It features AI for automating routine tasks, gamification to boost stakeholder engagement, over 40 out-of-the-box integrations, and more than 60 best-practice templates for efficient supplier risk mitigation and regulatory adherence. 3rdRisk collaborates with global partners such as Deloitte and NTT DATA.
The acquisition is set to significantly expand Diligent Inc's capabilities in the critical area of third-party risk management. 3rdRisk's cloud-native, AI-driven approach and comprehensive feature set will enhance Diligent's offerings, providing customers with a more robust and integrated solution for managing complex supplier ecosystems. This synergy is expected to streamline compliance operations and strengthen overall risk posture for organizations globally.
By combining 3rdRisk's specialized platform with Diligent Inc's broader governance, risk, and compliance solutions, the combined entity aims to deliver a more comprehensive and efficient suite of tools. This integration is poised to empower businesses to navigate an increasingly complex regulatory landscape with greater confidence and operational clarity.