FRSGLOBAL ACQUISITION OF IRIS PROMISES INTEGRATED RISK AND REPORTING SOLUTION

Posted August 26, 2008

LONDON – Regulatory reporting solutions provider FRSGlobal has acquired Iris Integrated Risk Management AG, a risk management solutions provider. With the acquisition, FRSGlobal will be able to introduce the first combined risk and regulatory reporting solutions for financial services.

“Risk and regulatory solutions have always been vital to the smooth operation of the financial industry and their true value is being highlighted in today’s tough economic climate,” says Steve Husk, Chief Executive Officer, FRSGlobal. “Risk and regulatory software have traditionally developed separately – we see this as the ideal time to pursue a strategic acquisition and bring the two together.”

FRSGlobal is supported by major investors The Carlyle Group and Kennet Partners. “FRSGlobal’s acquisition of IRIS fills a vital gap in the evolving industry landscape, combining two powerful solutions at a time when the need for comprehensive risk and regulatory solutions has never been clearer to financial institutions,” says Fernando Chueca, Associate Director at The Carlyle Group.

The acquisition is subject to European Union approval. “We welcome the acquisition by FRSGlobal and expect clients to benefit from a powerful combination of market-leading technologies, enabling them to take full advantage of this integrated solution,” says Dr. Jurg B Winter, Chief Executive Officer and founder, Iris. “It is very much a natural fit for our business, significantly increasing the global reach of our solutions and we look forward to working with FRSGlobal.”