GeoComply Solutions Inc., a leading provider of geolocation, fraud, and risk solutions, has acquired OneComply Inc.
The latter offers comprehensive solutions that help companies operating in regulated markets manage their personal and corporate licensing obligations. The acquisition will allow GeoComply to offer a streamlined, secure, and easy-to-administer set of tools for licensing processes, from initial license applications to ongoing compliance management.
According to GeoComply Co-Founder and CEO Anna Sainsbury, the acquisition was exciting from the start. She stated, "From our first interactions with OneComply, we have been excited about the opportunity to welcome them into the GeoComply family, and it gives me great pleasure to have completed that process. Licensing organizations and key individuals are necessary but can be a painful process for any entity working in regulated industries such as gaming or fintech. As an existing OneComply customer, we know just how much OneComply eases that pain, not just for us but also for the regulators administering the process."
By using OneComply's platform, businesses can eliminate complexity and automate licensing compliance, saving them valuable time and resources. The acquisition will enable GeoComply to offer unparalleled capabilities to support the mission-critical compliance needs of the gaming industry, including AML, KYC, licensing, geolocation, sanctions compliance, and fraud prevention technology.
OneComply Co-Founder and CEO Cameron Conn expressed excitement about joining the GeoComply team. He said, "As fellow Vancouver-based entrepreneurs, GeoComply has always been an inspiration. Our Co-Founder Aaron [Gould] and I are super excited about continuing our journey as part of the broader GeoComply team. I am sure that together we will amplify and enhance our world-class compliance and licensing solutions for regulated industries around the globe."
The terms of the transaction were not disclosed.
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