NEW YORK, Sept. 13, 2011 /PRNewswire/ -- Isis Venture Partners, through its operating subsidiary Latin Trade Group, announced today that it had acquired a majority interest in Datarisk. Based in Buenos Aires, Datarisk is a leading provider of risk mitigation and commercial assurance solutions to major corporations operating regionally in Latin America (www.datariskglobal.com).
"As Latin America becomes an increasingly important trade and investment hub, Datarisk's services will be in high demand," said Felix El Idd, founder and president of Datarisk. "Becoming a member of the Latin Trade Group will provide us with capital to expand and a platform to market our services."
Datarisk works with financial, procurement and compliance departments to develop highly efficient and value-added due diligence programs to monitor vendors, suppliers and partners. Since 1995, Datarisk has invested consistently in training professionals to provide a market-leading set of solutions in the risk mitigation arena — and one uniquely tailored for the markets of Latin America. Datarisk covers Latin America from a base in Argentina and offices in Brazil and the United States. Clients include: Peugeot, Unilever, Bunge, Toyota, Goldcorp, 3M and Techint.
"Datarisk has developed a highly proprietary software and methodology to execute programs that can benefit virtually any company operating in Latin America," said Richard Burns, managing partner of Isis Venture Partners and Chairman of the Latin Trade Group. "We are very excited at the synergy with the rest of the Group."
Datarisk will join the Latin Trade Group of companies providing information, intelligence, benchmarking and other business services to corporations and investors operating regionally in Latin America. Current members of the Group include Latin Trade magazine, Latin Business Chronicle.com, The BRAVO Business Awards, The LBC Benchmark Reports, The CFO Forum Series, Trade Americas and SPLENDID magazine.
The Latin Trade Group is an Isis Venture Partners portfolio company. Based in New York, Isis Ventures is a private equity firm that seeks to invest in growth companies, especially in the media and business services sectors.
Felix El Idd will remain president of Datarisk and commercial director Federico Bove will be promoted to Executive Vice President of the company. Matthew Lambert of Isis Ventures will join the board of Datarisk and become a managing director of Latin Trade Group.
Legal services for the transaction were provided by Bouzat, Rosenkrantz & Asociados of Argentina and the Law Firm of Michael M. Simon in the United States. Accounting and tax services were provided by Kaufman, Rossin of Miami, Florida.
SOURCE Latin Trade Group