Xactium has been acquired by US risk management solutions provider Riskonnect.

The Sheffield tech firm specialises in governance, risk and compliance software for enterprises.

Its technology enables risk, audit, and compliance leaders to more effectively, efficiently, and intelligently manage risk across the enterprise, while reducing business costs and improving reporting.

CEO Andy Evans said: “Innovation, collaboration, and delivering value are core to our DNA, which makes us a great fit with the Riskonnect team.

“Riskonnect’s global reach, impressive customer base, and market leadership will position us to help more organisations across the world.

“We are very excited to integrate with their team and collaboratively push the boundaries on what’s possible in integrated risk management.”

More than 60 customers use Xactium both within the financial services and large project management infrastructure sectors.

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