CaseWare IDEA to Buy SymSure

CaseWare IDEA has inked a deal with SymSure Limited to acquire SymSure’s intellectual property and other assets.

SymSure’s continuous monitoring and auditing software helps organizations document and address the weaknesses in their internal controls, examining the details of transactions and data files. The two companies have partnered in the past on integrating their auditing software products (see IDEA Teams with Audimation on Risk Monitoring).

“Last year we began a technology collaboration with SymSure, and as a result of that relationship, we became convinced that we needed to bring this technology and expertise into our group,” said CaseWare IDEA chief operating officer Bob Cuthbertson in a statement. “The SymSure products and people are a valuable addition to our product range and our corporate group.”

SymSure products will be rebranded under the CaseWare brand and marketed by a newly formed company, CaseWare RCM Inc., a subsidiary of CaseWare IDEA Inc. SymSure CEO Andrew Simpson will assume the role of chief operating officer of the subsidiary.