The deal is an example of the kind of consolidation affecting the financial services industry, including the compliance-focused firms that have seen demand for their wares expand post-2008.

US-headquartered ACA Compliance Group has completed its purchase of compliance, risk and governance products firm Cordium after winning a green light from regulators.

Financial terms of the transaction weren’t disclosed.

ACA will incorporate Cordium’s compliance, cybersecurity, and technology products and services into its existing offerings. The deal will allow ACA to expand its products and services to include tax services, financial and regulatory reporting, Mirabella (Cordium’s regulatory hosting platform), and a post-Brexit EU office in Malta, ACA said in a statement yesterday. 

The firms’ teams will bring together their technology offerings. ACA plans to integrate Cordium’s Compliance ELF (Employee Level Filing) product, a code of ethics and employee compliance management solution, into ACA’s ComplianceAlpha®.

ACA's footprint of offices covers London, Hong Kong, Malta, and US cities. It is headquartered in New York.