Reed Elsevier has entered into exclusive negotiations to acquire FircoSoft, the Paris-based global sanctions screening software group. The transaction is subject, among other things, to the completion of consultation with the works council of FircoSoft.
Reed Elsevier intends that FircoSoft will be combined with Accuity, its leading provider of global payment routing data and anti-money laundering solutions to banks and businesses worldwide.
“The combination of FircoSoft and Accuity will bring best-in-class solutions that will enable customers to achieve their sanctions screening, Anti-Money Laundering and Know Your Customer requirements with a level of precision and efficiency that has never been experienced before,” says Hugh Jones, President and CEO of Accuity.
FircoSoft is currently owned by Keensight Capital, a leading European Growth Private Equity firm, Paris Orléans (parent company of the Rothschild group), and the FircoSoft management team. FircoSoft was advised by Jefferies.