London firm buys Jerusalem's VinciWorks for NIS 236m.

• Author: ZEV STUB
• Published date: 04 October 2021
• Publication title: Jerusalem Post, The: Web Edition Articles (Israel)

VinciWorks provides risk and compliance tools to more than 530 global clients. The tools include a comprehensive e-learning platform that enables companies to reduce risk by training employees about their responsibilities based on the location, job role and knowledge of each employee.

It also offers Omnitrack, a flexible data-collection tool designed for compliance with more than 30 global regulations, including Know Your Customer/Customer Due Diligence supply-chain management, whistle-blowing and global tax reporting.

cnxps.cmd.push(function () { cnxps({ playerId: '36af7c51-0caf-4741-9824-2c941fc6c17b' }).render('4c4d856e0e6f4e3d808bbc1715e132f6'); });

>

VinciWorks is developing a next-generation compliance platform that will enable companies to centrally manage their risk and compliance from a single system. The platform gives risk and compliance professionals a centralized view of all global compliance, and it has the potential to leverage AI and machine learning to discover breaches and emerging risks, said Yehuda Solomont, the company's chief marketing officer.

VinciWorks' primary R&D and service center is in the Jerusalem Technology Park. Over the past seven years, it has grown from six local employees to more than 30. The company has more than 500,000 users across many sectors and boasts 60 of the top 100 global law firms as clients.

With £5.5m. (NIS 24.1m.) in 2020 revenues and EBITDA (earnings before interest, taxes, depreciation and amortization) of £3.2m. (NIS 14m.), the company's growth has exceeded 30% a year for the last five years, it said in a press release.

The company joins Marlowe, a software company listed on the London Stock Exchange with £280m. (NIS 1,228,781,484) in...