TORONTO, April 27 (Reuters) - Exiger, a firm that helps
businesses monitor compliances such as money laundering
regulations, has agreed to buy Canadian startup OutsideIQ for
C$30 million ($22.17 million), according to a person familiar
with the agreement.
The companies plan to announce the acquisition as early as
Thursday, said the person who was not authorized to discuss
terms of the deal.
New York-based Exiger sells technology and services that
help businesses comply with complex global regulations in areas
such as money laundering and financial crimes.
The deal is the largest to date by privately held Exiger.
The company was formed to lead the court-appointed oversight of
HSBC, which in 2012 admitted to allowing drug cartels
to launder hundreds of millions of dollars.
Toronto-based OutsideIQ, with 40 employees, sells
cloud-based software that make it easier for banks and other
organizations to assess risk and meet regulatory requirements.
The software uses cognitive computing processes that automate
time-consuming research and data analysis typically done by
($1 = $1.0000)
($1 = 1.3532 Canadian dollars)
(Reporting by Solarina Ho; Editing by Jim Finkle and Richard