CGE-backed Ethixbase completes acquisition of Tcompliance
Ethixbase, the CGE-backed leading provider of third-party risk management solutions, has announced its acquisition of Tcompliance, formally known as TRACE Inc.
LONDON, 18 October 2022
Ethixbase, a leading provider of third-party risk management solutions backed by CGE Partners (“CGE”), is delighted to announce its acquisition of Tcompliance, formerly known as TRACE Inc. Together they form one of the world’s most complete approaches to third-party and supply chain risk management.
Tcompliance is renowned for its Tcertification reports, which are widely considered the best in class in anti-bribery due diligence. The company’s products complement Ethixbase’s comprehensive third-party risk management solutions that offer screening and assessment capabilities for anti-corruption and anti-bribery risks, human rights abuses, labour and environment.
This acquisition highlights the important role of due diligence and transparency in third-party risk management amid the heightened complexity of today’s globally connected supply chains and the increasing pressure of ESG regulations. Ethixbase and Tcompliance’s benchmark methodology Explore, Enhance and Engage will enable companies to manage their supply chain based on risk exposure from low-touch automated screenings across the entire network to enhanced due diligence and hands-on engagement with high-risk suppliers and intermediaries.
“Since our inception in 2011, we have made it our mission to help companies bring transparency to 100% of their third-party network, because in a global value chain, you are only as strong as your weakest supplier. This acquisition is a significant milestone for Ethixbase and we’re delighted to formally welcome the Tcompliance team and continue our collaborative partnership under one roof.” Leas Bachatene, CEO at Ethixbase.
“Tcompliance was born out of an industry governance body and this collaboration means we will be able to continue that mission now serving more customers who are in need of our products. We have found a natural synergy with Ethixbase.” Pia Vining, President of Americas and Global Research for Ethixbase.
About CGE Partners – cge-partners.com
CGE Partners is a European mid-market investment fund. CGE invests in businesses using technology to facilitate the transition to a more digital, renewable, secure and compliant future, providing capital and expertise to enable rapid international expansion in global markets.
About Ethixbase – ethixbase.com
Ethixbase delivers market-leading technology to help companies identify, manage, and mitigate risks in their third-party network. The Ethixbase platform was designed to automate the identification of relevant risk indicators, provide insights from the data collected, and then create a positive impact for both its clients and their intermediaries. Ethixbase’s solutions offer risk-based due diligence, end-to-end compliance management, ongoing monitoring and compliance training. The company’s solutions are aligned with the 10 principles of the United Nations Global Compact, the world’s leading corporate sustainability framework.
About Tcompliance – tcompliance.com
Originally founded in the U.S. in 2007, Tcompliance grew to become recognized globally for its shared-cost due diligence approach which provides companies with the assurance that third parties have completed a detailed review based on globally accepted best practices while eliminating screening costs for customers. As a leading due diligence provider with anti-bribery expertise, Tcompliance has conducted over 600,000 reviews in every non-sanctioned country.