Australian consulting firm Mercer has acquired ExtraTextual, a web-based ecompliance and risk management solution, for an undisclosed amount.
The acquisition, which follows a long business partnership between the two parties, is expected to bolster Mercer’s governance and compliance offering.
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This acquisition will club Mercer’s governance and industry expertise with the technology that will help its clients to stay abreast of legislative changes and manage key areas of risk.
Mercer head of retirement and investments business Graeme Mather said: "This is a logical move for both parties, but what’s exciting about this acquisition is how we can make our clients’ lives easier by removing some of the governance burden of monitoring legislative and regulatory changes and the impact these can have on our clients operations.
"Super funds and managed investment schemes want easier ways to do business, but more importantly, they want the peace of mind that comes from being able to access the breadth and depth of expertise a global organisation like Mercer can bring to the table.
"Our compliance solution provides the necessary and comprehensive checklists with an overlay of legislative content that allows our clients to focus on value add areas, rather than interpreting complex legislative change, this is unique in the market place," Mather added.
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