London, June 4, 2007 AEST (ABN Newswire) - SAI Global Limited (ASX: SAI) has acquired the Reporting Officers On-line Resource [ROOR], a web-based resource that helps anti-money laundering [AML] and compliance professionals track and monitor the latest news and information on AML.
On announcing the strategic acquisition, SAI Global's Chief Executive, Ross Wraight, said the move further drives the development and expansion of SAI's high growth compliance business. "ROOR is SAI Global's fifth acquisition in the United Kingdom and continues to enhance SAI's position as a leading supplier of global compliance solutions that helps organizations monitor and respond to regulatory change."
"Strategically, this acquisition reflects SAI's ongoing commitment to aggregating the highly fragmented international regulatory compliance market," said Mr Wraight.
The transaction comes following SAI's recent acquisition of the North America risk, ethics and compliance provider, Midi.
The Acquisition:
- Strengthens SAI Global's existing AML solutions that offer clients enterprise-wide training and awareness solutions.
- Provides a range of AML content that can be tailored to job role, jurisdiction and business line.
- Further establishes SAI Global as a leading international solutions provider in the fast growing compliance space.
According to Mr Wraight: "With its database covering more than 120 countries, ROOR provides SAI's clients with access to the latest intelligence on regulations, warnings and sanctions, as well as news, in-depth country risk profiles and alerts to changes in AML regulations on a global scale."
Overview of ROOR
The Reporting Officers On-line Resource offers the following services to SAI Global clients:
- An at-a-glance 'Country Risk Profile' and 'Warnings, Sanctions and Advisory Notices' guide to AML regulation round the world, including a summary of legislation, regulatory regimes and risk assessments, plus other relevant intelligence and evaluations.
- A 'Typologies & Sector Risks' guide to assessing vulnerabilities and areas where extra diligence might be needed.
- Money laundering case studies, features, news and events.
- Email alerts on latest legislation updates.
- 'International Organisations and Initiatives' giving an overview of the aims, powers, activities and achievements of bodies working to combat money laundering.
SAI Global Compliance
SAI Global provides an extensive range of solutions and services in the areas of compliance, regulation, ethics and risk management, including:
- Newsfeeds and alerts on key compliance and regulatory topics
- Enterprise compliance and risk management solutions
- An extensive library of learning and awareness solutions delivered largely through the web
- Learning solutions supported by a Learning Management System providing both audit and compliance learning management capability
SAI Global's Head of Compliance, Terry Hancock, said: "ROOR is a significant extension to SAI's AML solution set. SAI is uniquely positioned to offer AML solutions tailored to language, industry, job role and territory, giving clients a global programme from a single expert source. ROOR stands to be of significant benefit to SAI's more than 100 banking sector clients.
Acquisition Funding
The acquisition has been funded through a combination through existing cash resources and will not have a significant impact from a revenue, cost and profit perspective.
Contact
Investor Relations Inquiries
Tom Godfrey - SAI Global
+61 2 8206 6863
+61 414 191 034
tom.godfrey@sai-global.com
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