(Alliance News) - Apax Global Alpha Ltd on Friday said Apax Global Impact Fund acquired technology provider GAN Integrity Inc for an undisclosed fee.
Apax Global Alpha is a Guernsey-based investor which backs technology, services, healthcare, internet and consumer-focused firms, and is a limited partner of Apax Global Impact Fund.
GAN Integrity specialises in technology providing real-time management and monitoring of third-party and employee risk, ethics and compliance.
Apax Global Alpha said the investment will enable GAN Integrity to accelerate product development and better serve the growing demands of global brands for risk, ethics and compliance management software technology.
On a look-through basis, Apax Global Alpha has invested around EUR2.6 million in GAN Integrity.
"This investment provides us with the resources and flexibility to execute on our ambitious customer product road map and growth plans, providing even more organisations around the world with a platform that makes good governance effortless," said GAN Integrity Chief Executive Officer Nicholas Manolis.
Apax Global Impact Fund Principal Juan Pablo Moncayo commented: "We couldn't be happier to be partnering with GAN and helping to fuel the next stage of its growth. Our research confirms that the company's platform directly helps drive positive corporate behaviour, acting as an enabler of good governance for the benefit of employees, stakeholders, and society at large. We believe that GAN has the potential to be a leader in this important space and we look forward to working closely with the team to reach our collective ambitions."
Shares in Apax Global Alpha were up 0.2% to 157.85 pence each in London on Friday morning.
By Greg Rosenvinge, Alliance News reporter
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