Atlanta-based private equity investor Resurgens Technology Partners has purchased the Assurance Business Continuity Management Planning unit of Sungard Availability Services.
Following the transaction, Assurance Software will retain its name and operate as its own entity.
Pennsylvania-based Assurance creates end-to-end business continuity programs for processes including business impact analysis, incident management, disaster recovery planning and reporting and emergency notification management. The SaaS platform helps businesses to mitigate risk, manage recovery and safeguard operations and employees.
It services are used by financial services, risk management and insurers, credit unions, community banks, manufacturers, retailers and healthcare providers. Insurers can use the technology to protect policy holder data and complete claims processes quicker.
Financial services and banks utilise Assurance to support their compliance protocols, mitigate threats and plan for future challenges.
Assurance will retain its team and customers will keep their current points of contact to ease transition.
Resurgens principal and co-founder Adi Filipovic said, “As a standalone entity, coupled with our focus and expertise in developing software businesses, Assurance will further establish itself as the go-to solution for lowering risk, improving resilience and better managing business continuity.”
Last year, Resurgens Technology invested into performance analytics and reporting platform Investment Metrics. The funding, which was made alongside HarboutVest Partners, was deployed to support the company with its global expansion plans.
North America held the lion share of funding in the data and analytic space last year, according to data by FinTech Global. Around $2.1bn was invested into the sector globally, with North America receiving 82 per cent of the capital.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
