 ISGN acquires majority stake in GMACCM
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Krishna Srinivasan |
ISG NovaSoft (ISGN), a K.K. Birla group company, has announced its acquisition of a majority stake in GMACCM Technology Europe Limited (GTEL), a software solutions company based in Ireland, from GMAC Commercial Holding Corp. GTEL is the developer of Risk Management Compass (RMC), a purpose-built, user-friendly solution for risk management and adherence to regulations such as Sarbanes-Oxley
(SaX).
"RMC offers a clear alternative to the all other approaches towards achieving full compliance life-cycle management," said Krishna Srinivasan, chief executive officer of ISGN. "The acquisition of GTEL will enable us to offer compliance solutions to Global 2000 businesses, mid-size enterprises, governments and educational institutions."
RMC was designed with extensive user participation and has been successfully deployed in major enterprises including GMAC Commercial Mortgage, Ryanair and others. RMC deploys in as little as four weeks and reduces ongoing compliance costs by as much as 50 per cent, Krishna said.
 According to analysts, the market for ERM and compliance is at $ 15.5 billion for 2005 and will rise to $ 80 billion by 2009.
The acquisition augments ISGN's current offices in the United Kingdom and enables ISGN to work across the European Union market. Leveraging its highly skilled workforce, the Irish operation will serve as a near-shore presence to the United States.
"ISGN's extensive experience and reach with global customers in the areas of deploying, maintaining, and extending enterprise-grade applications complements our offering, and we look forward to dramatic growth in the coming year," said Will Gessner, vice-president of
GTEL.
"The market for risk management solutions is ripe for players with purpose-built, flexible, user-configurable solutions," said Yesh Subramanian, ISGN's executive vice-president, Marketing & Business Development. "Organisations are seeking vendors with proven, role-based solutions that can work across functions, including providing executive overview to support organisation-wide visibility and quick drilldown to support organisation-wide accountability."
 ISG NovaSoft (ISGN) is a global enterprise software products and services company providing value-driven business solutions to customers worldwide. ISGN has over 12 years of industry experience, a network of over 350 skilled professionals, and over 2.25 million person hours of project experience. It is a company in the K K Birla group, a leading industrial group in India with annual sales of over $ 2 billion. It is focused on three core business lines - Outsourced Software Product Development (OPD), Application Management Outsourcing (AMO) and Enterprise Risk Management (SOX, Baselll, Clause 49) - which are supported by a strong professional services experience on SAP for Global 2000 companies worldwide.
GMAC Commercial Holding Corp. is a leading financial services resource for the global commercial real estate industry. The company, through its varied business units and subsidiaries, has extensive operations in lending, investment advisory services for debt and equity real estate, non-performing loan and asset management, loan servicing, affordable housing finance and real estate investment banking. It has a network of offices throughout the United States and operations in Canada, France, Germany, India, Ireland, Japan, Mexico, Taiwan and the United Kingdom.
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