Geolocation solutions provider GeoComply acquired compliance and licensing management firm OneComply as its first acquisition.
OneComply will provide its customers with the tools they need to complete the licensing process, starting from the initial application for licences and continuing to manage compliance.
OneComply is a centralised, automated service that simplifies the licensing processes for companies operating on regulated markets.
Terms of the acquisition have not been disclosed.
Anna Sainsbury is the co-founder of GeoComply and its CEO. She expressed her satisfaction at having completed the acquisition, especially since GeoComply was already a OneComply client.
Sainsbury said, “It gives me great satisfaction to have completed this process.”
“Licensing key individuals and organisations is necessary, but it can be a difficult process for any entity that works in regulated industries like gaming or fintech.”
As a OneComply client, we understand how OneComply can ease the pain of the regulatory process, not only for us, but also for regulators.
GeoComply’s compliance capabilities are “unparalleled”.
Sainsbury said that the high level of compliance will be a great benefit to those in the gambling sector.
She continued, “Adding their licensing platforms and expertise to our solution portfolio will help our existing customers and new ones in the gaming industry and other regulated sectors achieve and maintain new gold standards in compliance and risk management services.”
“Together we will have unprecedented capabilities to support mission-critical compliance requirements of the gaming industry including AML and KYC, licensing geolocation, sanctions compliance technology, and fraud prevention technologies.”
“GeoComply is a source of inspiration”
Cameron Conn said that OneComply would be able to provide its services in more regulated sectors abroad.
Conn said that GeoComply, as a fellow Vancouver-based entrepreneur, has always been an inspirational company. He and his co-founder Aaron Gould are excited to continue their journey with the GeoComply broader team.
I am confident that together, we will enhance and amplify our world-class licensing and compliance solutions for regulated industry around the globe.