Hiperos Announces It Has Been Acquired By Opus Global
Acquisition positions Hiperos to Accelerate Leadership in Burgeoning Third Party Management Market
BRANCHBURG, N.J., July 8, 2014-- Hiperos, LLC (“Hiperos”), the leading provider of third party management software, announced today that it has been acquired by Opus Global (“Opus Global”).
Terms of the transaction were not disclosed.
Opus Global is an investment partnership formed in September 2013 between GTCR, a leading Chicago-based private equity firm, and Doug Bergeron, former CEO of VeriFone. Opus Global plans to invest up to $500 million, with $450 million from GTCR and $50 million from Mr. Bergeron.
Mr. Bergeron currently serves as CEO of Opus Global and, in addition, will assume the role of Executive Chairman of Hiperos after the transaction is completed. Michele Flynn, founder and current Chairman of Hiperos will assume the role of Vice Chairman of Hiperos and will join the Opus Global Board as a director. Greg Dickinson will continue to serve in his role as CEO of Hiperos, and will also join the Opus Global Board as a director.
“Since the creation of Hiperos in 2007, we have seen growing reliance by businesses on third parties and the resulting relevance of third party management. Supply chain risk and the cost-effective management of third parties have become the top compliance and economic challenges for corporations,” said Ms. Flynn. “Our decision to merge with Opus Global provides Hiperos with a platform to accelerate our growth and increase our ability to take full advantage of the growing demand for third party management solutions.”
“The relentless growth in both the global regulatory environment and the number and complexity of the relationships that companies have with their third parties is altering the strategic importance of third party management within corporations. The recognition that third party management can drive competitive advantage is driving demand for a broad range of value and risk-based solutions,” said Mr. Dickinson. We remain committed to developing solutions that can protect an organization against reputational impact, regulatory exposure and revenue loss, deliver the controls required to manage constant change and optimize processes and resources. The backing of Opus Global and GTCR gives Hiperos the ability to create and deliver even more value to our customers, as well as rapidly expand our operations.”
Hiperos is the first acquisition for Opus Global. It forms the foundation for Opus Global’s innovative strategy of building, through targeted acquisitions and direct investment, a leading technology platform that integrates solutions to address the increasingly complex compliance requirements and risks faced by companies in every industry, with an expertise in ensuring consistent application of business operations.
“We view Hiperos as the cornerstone of our strategy to build the preeminent risk and compliance platform in the world,” said Mr. Bergeron. “The significant amount of research we conducted to find our cornerstone portfolio acquisition, led us directly to Hiperos. The company has an impressive client roster that includes some of the largest companies in the world and possesses a stellar track record of customer growth, retention and satisfaction. In fact, when looking at Hiperos, I’ve never seen such overwhelming demand by end-users. We look forward to working with Greg and Michele and their talented management team to build the business by further penetrating existing end markets, exploring geographic and market expansion, and through strategic add-on acquisitions.”
Hiperos is the leader in Third Party Management software connecting over 300,000 third parties to many of the world’s largest companies across a range of industry verticals including energy, financial services, food, real estate, pharmaceuticals, and technology. The company’s flagship product, Hiperos 3PM™, is the only solution in the market that is purpose-built to simultaneously minimize the risks of using third parties while maximizing the value they provide. Implemented by the global 2000 and business consortiums to address their expanding third party management requirements, Hiperos 3PM™ has become the industry’s most widely used SaaS-based solution. The winner of industry awards and accolades for the proven value and low cost of ownership it delivers, Hiperos 3PM™ enables companies to protect their brand and revenues by implementing an automated, consistent approach to third party onboarding, measurement, monitoring and controls, throughout their lifecycle. Hiperos’ clients include many of the world’s leading companies such as Aetna, Alcoa, AON, Arrow Electronics, Astra Zeneca, AXA, Bank of Montreal, CA Technologies, Charles Schwab, Huntington Bank, Kraft Foods, Mondelez, Microsoft, News Corporation, Peabody, PNC Bank, Rockwell Automation, Sun Life Financial, State Street, TD Bank, and United Technologies.
For more information visit http://www.hiperos.com.
About Opus Global
Headquartered in Palo Alto, California, Opus Global was created through a $500 million partnership between GTCR, one of the world’s leading private equity firms, and Doug Bergeron, former CEO of VeriFone. Through its direct investments and targeted acquisitions Opus Global seeks to build a leading technology platform that integrates solutions to address the increasingly complex compliance requirements and risks faced by companies in every industry. Opus Global’s mission is to establish itself as a long-term partner capable of delivering significant value to businesses through the aggregation of content, software-based solutions, and related services.
For more information about Opus Global, please visit http://www.opusglobal.com.
Marie-Charlotte Patterson, +1-908-981-0060
Venture Capital Database