Mitratech acquires Hitec Laboratories
Mitratech, a provider of legal, compliance, and operational risk solutions, has acquired Hitec Laboratories, a governance, risk, and compliance (GRC) software provider.
This is the firm’s fifth acquisition in the past year and the “second major” one in the GRC market. It recently bought CMO Software in June. The financial terms of this latest deal are not being disclosed.
Mitratech CEO Jason Parkman says with the acquisition, it can “bring all of the capabilities across legal, compliance and operational risk together in an end-to-end software platform”.
Jeremy Crame, Hitec CEO and founder, adds that the acquisition provides it with a “wider market reach and increased investment”.
Mitratech says it has a global network of more than 1,200 corporations and 12,000 law firms with over 25% of clients in EMEA and APAC. It has over 400 employees and operations in North America, Europe and Australia.
Hitec is headquartered in the UK, with a branch office in Boston (US). The company started trading in September 1991.