The online audit confirmation service Confirmation.com has expanded its presence in Europe with the acquisition of ProConfirm Ltd., an electronic audit confirmation service based in London.
The acquisition adds ProConfirm’s local expertise of the U.K. and European markets to Confirmation.com, which is setting up a subsidiary in the United Kingdom, Confirmation.com U.K., Ltd.
“In Europe, there is a growing interest in our online audit confirmation service as more accounting firms and banks look for ways to improve operational efficiencies, and reduce the chance of financial fraud going undetected,” said Confirmation.com CEO Chris Schellhorn.
The Brentwood, Tenn.-based company has experienced significant adoption in international markets of the Confirmation.com service in the past two years, according to Confirmation.com president Brian Fox. “With the acquisition of ProConfirm, this growth will continue at an even more rapid pace,” he said.
ProConfirm will remain in London and integrate into Confirmation.com U.K., Ltd. Adam Goodall and Samuel O’Connor, acting principals of ProConfirm, will oversee operations for the Confirmation.com U.K. office, including marketing, sales and support of the Confirmation.com service.
Confirmation.com also has reseller partners in the Asia Pacific region, Confirmations Asia Pacific, along with CQS Technology Holdings in Africa and Asa Makina in Turkey.