BearingPoint RegTech acquires Dublin-based Vizor Software

By Megha Bhattacharya

BearingPoint RegTech, an European provider of innovative regulatory, risk, and supervisory technology solutions, has signed an agreement regarding the acquisition of Vizor Software. Vizor is a provider of regulatory and supervisory technology headquartered in Dublin, Ireland. With the newly formed partnership, RegTech and Vizor aim to accelerate their future growth journey.

Jürgen Lux, CEO of BearingPoint RegTech, stated, “The deal with Vizor is an important milestone in RegTech’s development. It demonstrates that we are growing strongly as a stand-alone company since Nordic Capital came onboard as our new owner late last year. Both Vizor and RegTech have over 20 years of history, are market leaders with our RegTech and SupTech solutions, and complement each other perfectly in terms of products, markets, and customers. As a combined company, we will develop a strategy for further, sustainable growth to fulfill our shared mission: to contribute to the transparency and stability of the financial markets with our solutions.”

The current management team at Vizor will remain and work in close partnership with RegTech. The sellers were advised by Novacies Capital (M&A) and Eversheds Sutherland (Legal). The transaction is subject to customary regulatory approvals.

Conor Crowley, CEO at Vizor Software, commented, “Since we founded Vizor over 20 years ago, we have made the company a renowned technology provider for central banks, regulators and tax authorities around the world. Vizor’s decision to join forces with RegTech is crucial for the further development and international growth of our company. We look forward to opening a new chapter together with RegTech not only in the history of our company, but also in the field of RegTech and SupTech.”

Emer FitzPatrick, Country Lead Ireland at BearingPoint RegTech, added, “As Country Lead Ireland, I am particularly excited about the combination of RegTech and Vizor. Our Irish team will now not only be part of a large international RegTech provider, but also part of a larger organization in Ireland. We look forward to working with the management and entire team at Vizor, with whom we share not only a very similar vision and mission, but also cultural values.”

Recently, BearingPoint announced that financial services provider, SIGNAL IDUNA Bauspar AG (SIB) has gone live with the new version 7 of Abacus360 Banking. The new version was rolled out in Spring and is based on the cluster computing framework, Apache Spark technology. The go-live took place on the 20th of May, 2020. SIB has also selected the supplier’s test automation tool ABACUS/Testing to accelerate business tests.