Refinitiv Announces Acquisition of The Red Flag Group
- M&A Deals
- 06.10.2020 07:37 am
Refinitiv has acquired The Red Flag Group, significantly expanding its suite of due diligence offerings with the addition of a leading provider of workflow, data, due diligence and ratings solutions that help corporate compliance customers to evaluate money laundering, bribery and corruption, reputational and ESG risk.
The acquisition of The Red Flag Group comes at a time of rapid growth in the market for due diligence solutions and services, fueled by an increasingly complex and rapidly evolving business environment. The acquisition combines the best in breed of both organizations to deliver the technology, data insights, scale, and automation capabilities required to meet the evolving needs of customers.
The addition of The Red Flag Group to Refinitiv’s existing Due Diligence capabilities, will result in a comprehensive set of tools and services to assist in customer and third-party risk mitigation. The combination will result in further development in areas such as workflow platforms, traditional due diligence reports, and will leverage Refinitiv’s data powered insights driven by products such as World-Check, the company’s premier risk intelligence database.
“This is an exciting combination for customers of both companies as we will be bringing together the capabilities of two highly complementary businesses,” said Phil Cotter, Managing Director of the Risk business at Refinitiv. “The Red Flag Group’s strong corporate customer base and customer-facing technology complement our traditional strength in financial services, rich and diverse datasets and automation capabilities. I look forward to welcoming our new colleagues at The Red Flag Group to Refinitiv.”
“We chose to join Refinitiv because they offer the prospect of further growth and investment,” said Scott Lane, Founder and CEO of The Red Flag Group. “The opportunity to build an extensive suite of due diligence products and capabilities to better serve our growing customer base is an exciting prospect.”
“The acquisition of The Red Flag Group comes at a time when our customers are wrestling with new and emerging challenges, including supply chain resilience and an increasing focus on ESG due diligence,” said Charles Minutella, Head of Due Diligence services at Refinitiv. “With the addition of The Red Flag Group, Refinitiv is ideally positioned to meet these and other on-going customer challenges. We’re looking forward to expanding upon the great work The Red Flag Group has done to date.”
The Red Flag Group is a global integrity and compliance risk firm based in Hong Kong with 15 offices located throughout the United States, Asia, the Middle East and Europe. Established by founder and CEO Scott Lane, the firm has more than 900 customers and approximately 300 employees who assist clients across a range of industries with their enhanced due diligence and onboarding technologies. Its leading products include IntegraCheck, IntegraWatch, Supplier Integrity and ComplianceDesktop.
Refinitiv offers comprehensive, timely, and trusted information to help customers manage regulatory compliance, enterprise risk and financial crime. Its leading products include World-Check, Qual-ID and Connected Risk.