Sustainability RegTech company Diginex announced today an agreement to acquire supply chain risk monitoring platform Findings, in a transaction valued at up to $305 million, and aimed at boosting Diginex’s technological and cybersecurity capabilities.
Founded in 2018 by CEO Kobi Freedman and CTO Jonatan Perry, U.S. and Israel-based Findings provides solutions aimed at providing companies and their vendors with visibility into their cybersecurity, ESG performance, and compliance readiness. The company provides supply chain risk monitoring and vendor risk automation solutions in the cybersecurity and sustainability regulatory domains, designed to enable organizations to make risk-related strategic decisions and maintain compliance in the supply chain global regulatory ecosystem.
Diginex provides software solutions aimed at helping companies to streamline ESG, climate, and supply chain data collection and reporting, utilizing blockchain, AI, machine learning and data analysis technology. According to Diginex, the proposed acquisition will integrate Findings’ expertise in AI vendor risk management (VRM), real-time cloud audits and monitoring, as well as its API-based verification automation and secure data sharing into its platforms, enhancing its technological capabilities and expanding its footprint in the cybersecurity sector.
Miles Pelham, Chairman of Diginex, said:
“We are thrilled about the potential acquisition of Findings, which will bolster our supply chain and risk management offerings. Findings’ cutting-edge solutions in vendor risk management and cloud security, led by founders Kobi Freedman and Jonatan Perry, perfectly complement our sustainability-focused technology stack and will accelerate value creation for our clients worldwide.”
Under the proposed transaction, Diginex will acquire Findings for $270 million in shares and up to $35 million in cash, including $20 million subject to an earn out based on the achievement of financial targets. Diginex has also agreed to provide further growth funding to Findings post-closing, based on agreed performance metrics, to support innovation and global expansion.
Findings CEO Kobi Freedman said:
“We are thrilled to join forces with Diginex, a leader in sustainable RegTech, to jointly enhance our automated solutions for supply chain risk and compliance management. This transaction will enable us to provide customers in various regulated sectors with cutting edge technology to support the ever growing regulatory and risk oversight requirements of their supply chain partners, leverage Diginex’s global platform and advanced technologies to accelerate growth, extend the mutual offerings with our supply chain cybersecurity automation solutions and deliver greater value to organizations navigating complex regulatory landscapes.”
