Wolters Kluwer Tax and Accounting has acquired CI Consultancy Limited, an Irish developer of operational risk control systems for financial institutions and corporations.
Ci3, based in Dublin, serves over 3,000 users in Europe, North America and the Asia Pacific region. The company provides enterprise risk management software, governance, risk and compliance software, and IT consulting services to corporations to give them a view of operational risk in conjunction with their audit activities.
The consultancy's main product, Sword, offers financial institutions a configurable system for measuring, monitoring and managing operational risk and compliance. Ci3 also develops and delivers technology in the fields of credit risk, market risk, portfolio and asset management, and corporate banking, as well as general IT consulting services.
The Ci3 acquisition will help Wolters Kluwer Tax and Accounting, which operates under the brand name CCH, extend its audit strategy into enterprise risk management. In 2007, it acquired PricewaterhouseCoopers' TeamMate audit productivity software and made it a CCH product.
Wolters Kluwer Tax and Accounting will now leverage CCH TeamMate to further differentiate Ci3's Sword application and offer new integrated professional products.
Ci3 has 36 employees and they are all expected to join the Wolters Kluwer Tax and Accounting organization. Ci3 will continue to operate out of Dublin as a stand-alone business line within Wolters Kluwer Tax and Accounting.
