FALLS CHURCH, Va.--(BUSINESS WIRE)--Altegrity, Inc., the parent company of leading data and information services, employment screening and investigative services providers, announced today the close of the acquisition of CVM Solutions, a leading provider of supplier management technology and data solutions. CVM Solutions will become part of Kroll, an Altegrity subsidiary, which is the world's leading risk consulting company providing a broad range of investigative, intelligence, financial, security and technology services. Terms of the transaction were not announced.
CVM Solutions will be combined with Kroll Risk & Compliance. Pairing CVM Solution’s supply chain management capabilities with Kroll Risk & Compliance’s robust vendor screening services creates a business that is the first to offer a complete governance, risk and compliance platform integrated into a supply chain management software solution. The combined capability allows clients to simultaneously drive supply-side efficiency while reducing fraud and ensuring compliance with the Foreign Corrupt Practices Act (FCPA) and UK Bribery Act.
“CVM Solutions has significant industry expertise and is one of the fastest growing providers of enterprise supplier management solutions in the market today,” said Mike Cherkasky, chief executive officer of Altegrity. “Bringing CVM Solutions into the Altegrity family of businesses will enable us to accelerate growth within our Kroll Risk and Compliance business and offer the most comprehensive global supplier risk and compliance solution in the market.”
CVM Solutions is the premier provider of supplier management solutions that enable clients to achieve operational excellence, drive cost savings and mitigate supplier risk. CVM Solutions’ innovative technology and the industry’s leading supplier database provide truly unique capabilities for supplier management. With vast supplier intelligence, deep experience and customer-focused results, CVM Solutions has helped more than half of the Fortune 100 to realize tangible benefits. Its customers span such diverse industries as automotive, distribution, energy and utilities, financial services, food and beverage, hospitality, high technology, media and cable, pharmaceutical, healthcare, telecommunications and transportation.
“We are excited about the opportunities created by having the CVM Solutions team join Kroll and the Altegrity family of businesses, the premier brands in corporate risk management and diligence solutions,” said Greg Silich, chief executive officer of CVM Solutions. “All our clients, including supplier diversity and data enrichment, will be able to leverage Altegrity and Kroll’s global reach and rich supplier diligence solutions to attain improved visibility into potential compliance and risk issues.”
"Our acquisition of CVM Solutions is all about understanding our clients’ needs,” said Lee Spirer, senior vice president of Kroll Risk & Compliance Solutions. “They are increasingly focused on their need to align the procurement and compliance functions and reduce systematic risk. The combination of our two seasoned teams will make this possible.”
Debevoise & Plimpton LLP served as Altegrity’s legal advisor. Wells Fargo Securities served as financial advisor and Katten Muchin Rosenman served as legal advisor to CVM Solutions in the transaction.