CUBE COMPLETES ACQUISITION OF THOMSON REUTERS REGULATORY INTELLIGENCE AND ODEN BUSINESSES
- Acquisition delivers an expanded customer base with a deep global subject matter expertise network that further powers CUBE's RegBrain AI across its industry proven SaaS RegPlatform™
- CUBE continues to see strong organic customer growth in its well-established enterprise sector whilst also accelerating growth across the mid-market sector
- 2024 was a year of strategic milestones for CUBE including the partnership with Hg, expanding its global footprint across six main hubs, the acquisition of Reg-Room and Thomson Reuters Regulatory Intelligence and Oden businesses, together with pivotal board and executive appointments
LONDON, Jan. 3, 2025 /PRNewswire/ -- CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has today formally announced the completion of its acquisition of the Thomson Reuters Regulatory Intelligence and Oden businesses on 31 December 2024.
The acquisition of these global businesses is another step forward in CUBE's growth plans as a leader in regulatory intelligence. It will supplement and enhance CUBE's ability to deliver significant scale across many of the world's leading and systemically important financial institutions. CUBE's global customer base will expand to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE's Founder and CEO, Ben Richmond, said: "The completion of this acquisition is a major milestone for CUBE in a year that has seen many important milestones including our strategic partnership with Hg, the acquisition of Reg-Room, and the acquisition of Thomson Reuters Regulatory Intelligence and Oden businesses."
"Thomson Reuters is best known in the industry for providing regulatory analysis and subject matter expertise combined with world-leading journalism and news," said Ben Richmond. "The powerful combination of CUBE's AI and the years of human generated content curated by Thomson Reuters Regulatory Intelligence and Oden subject matter experts sets us apart in the industry. This new dimension at CUBE will accelerate innovation and drive further growth and opportunity in 2025 and beyond."
Following the announcement of its strategic partnership with Hg in March 2024, CUBE has now completed two transformational US-based acquisitions across three businesses whilst continuing to assemble a highly experienced executive team. CUBE's continued impressive growth saw its presence in the enterprise sector surpassing 200 customers and now represents around 40% of Tier 1 financial institutions globally. In the mid-market sector, serving small and medium sized enterprises, CUBE now has near 800 customers.
With this growth CUBE solidified its global footprint by establishing offices across its six main hubs focused on customer support and implementation; with the number of employees at CUBE doubling to near 700 and a comparable increase in the number of countries where CUBE's employees are located, which now totals 15 countries.
Ben Richmond said: "We are excited to welcome all of our new colleagues to CUBE – 2025 promises to be yet another significant year for the business as we continue to deliver further innovation focused on automating regulatory compliance and risk management for our customers."
The definitive agreement was originally announced in May 2024 and terms were not disclosed.
SOURCE CUBE
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