Acuity Risk Management Limited has acquired Rizikon, a leading supplier management and assurance platform, from Crossword Cybersecurity PLC, enhancing its STREAM® Integrated Risk Manager solution.
Rizikon is a secure, encrypted, third-party assurance and supplier management platform that enables companies to manage supplier onboarding, due diligence, and assurance activities. It helps companies reduce the cost, time, and resources required to manage third-party suppliers and risks, improves data quality, ensures suppliers meet their compliance requirements, and supports informed, data-driven procurement decisions.
The acquisition of Rizikon represents a strategic step in Acuity's growth journey. Rizikon's digital supplier management capabilities complement Acuity's STREAM® platform, enhancing our ability to provide comprehensive and robust third-party risk management solutions. Our combined offering will provide unparalleled support to organizations in managing their full risk portfolio.
As part of the transaction, the intellectual property rights, software-as-a-service contracts, technical assets and the Rizikon brand have transferred from Crossword Cybersecurity Plc, along with key members of the Rizikon sales team.
Rizikon will be integrated with Acuity's award-winning STREAM® Integrated Risk Manager, enhancing Acuity's offering to a wide range of industry sectors and adding complementary functionality to Acuity's current supplier management capabilities. STREAM® will bring additional risk management capabilities to Rizikon's current client base. All Rizikon customers will be invited to benefit from both the Rizikon and STREAM® functionality post-completion.
We believe that Rizikon and the team will flourish as part of the Acuity business. Crossword's strategic focus on cybersecurity consulting and our product, Arc, means that Rizikon has a better long-term future as part of a business dedicated to governance, risk and compliance software. Acuity can offer continuity to Rizikon clients, whilst enhancing the overall Rizikon proposition with Acuity's award-winning STREAM® product, giving clients a more comprehensive integrated risk management solution.
About Acuity Risk Management
Acuity Risk Management helps businesses worldwide effectively manage, prioritise, and report on their risks to inform strategic decision-making and build long-term resilience. Acuity's powerful STREAM® platform provides rapid time-to-value to reassure stakeholders that risks are under control and compliance is maintained with increasingly complex standards and regulations.
With STREAM®, Acuity eliminates the guesswork around risk to support strategic decision-making, prioritisation of resources, and justification of expenditure to maximise ROI. With customers worldwide, Acuity has proven success supporting customers in highly regulated and targeted industries such as finance, IT, telecommunications, healthcare, defence, and government.
About Rizikon
Rizikon is a secure, encrypted, third-party assurance and supplier management platform that enables companies to manage supplier onboarding, due diligence, and assurance activities. It helps companies reduce the cost, time, and resources required to manage third-party suppliers and risks, improves data quality, ensures suppliers meet their compliance requirements, and supports informed, data-driven procurement decisions.