|By Business Wire||
|July 8, 2014 06:10 AM EDT||
Opus Global (“Opus Global”) today announced it has acquired Hiperos, LLC (“Hiperos”). Hiperos is a recognized global leader in third party management 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. Hiperos provides rapidly deployable, highly flexible SaaS-based solutions for a broad range of information management, risk, compliance and performance needs for many of the world’s Global 2000 companies including, 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.
The terms of the transaction were not disclosed.
Opus Global is a company formed in September, 2013, by 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, has assumed the role of Executive Chairman of Hiperos. 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.
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.
Hiperos, founded in 2007 and based in Branchburg, NJ, provides top-tier technology solutions that help companies manage their third party management needs through the Hiperos 3PM™ platform, the industry’s first intelligent SaaS solutions for third party management. Third parties include sub-contractors, channel partners, suppliers, contract manufacturers, distributors, resellers, agents, or brokers who deliver a complex business function or service for a company.
Doug Bergeron commented, “Hiperos is the leading provider of third party management solutions with 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. We view Hiperos as the cornerstone of our strategy to build the preeminent risk and compliance platform in the world. We see tremendous opportunity globally as increased regulations and corporate risk focus has shifted to all third party exposures, not just suppliers. There is an increased global regulatory imperative on companies from anti-money laundering regulation, the FCPA, FATCA, Dodd-Frank and the UK bribery law, among others. The average Fortune 1000 company manages upwards of 20,000 relationships and the penalties are potentially disastrous.”
Bergeron added, “We are very excited about this platform acquisition and 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.”
Greg Dickinson added, “We are thrilled to enter into a transaction that will provide Hiperos with the ability to continue its internal growth as well as pursue attractive acquisition opportunities. I am confident this transaction will enable Hiperos to create and deliver even more value to our existing customers as well as secure new customers. Doug’s breadth of experience and strong track record of growing businesses will enable us to build value while creating attractive opportunities for employees. We expect a bright future as part of Opus Global.”
Michele Flynn commented, “We are pleased to join forces with Opus Global and believe this transaction will provide Hiperos with necessary growth capital, while preserving our relentless focus on our customers.”
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.
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.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Dec. 9, 2016 05:30 PM EST Reads: 2,361
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Dec. 9, 2016 05:30 PM EST Reads: 414
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Dec. 9, 2016 05:15 PM EST Reads: 1,882
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 9, 2016 05:15 PM EST Reads: 1,456
"MathFreeOn.com is a line coding platform for engineers and scientists. When they want to solve an engineering problem and they have to use software - they have to pay a lot of money for licenses - but with MathFreeOn you don't have to pay a lot of money. Just go to our site and write the code and you can check the result right away," explained Simon Lee, CMO of MathFreeOn, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Cla...
Dec. 9, 2016 05:15 PM EST Reads: 369
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Dec. 9, 2016 05:00 PM EST Reads: 2,054
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 9, 2016 04:45 PM EST Reads: 1,858
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 9, 2016 04:45 PM EST Reads: 1,288
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, provideed economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session also included a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Dec. 9, 2016 03:45 PM EST Reads: 578
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 03:30 PM EST Reads: 1,230
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 9, 2016 03:15 PM EST Reads: 978
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 03:15 PM EST Reads: 861
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Dec. 9, 2016 03:00 PM EST Reads: 2,012
Infrastructure is widely available, but who’s managing inbound/outbound traffic? Data is created, stored, and managed online – who is protecting it and how? In his session at 19th Cloud Expo, Jaeson Yoo, SVP of Business Development at Penta Security Systems Inc., discussed how to keep any and all infrastructure clean, safe, and efficient by monitoring and filtering all malicious HTTP/HTTPS traffic at the OSI Layer 7. Stop attacks and web intruders before they can enter your network.
Dec. 9, 2016 03:00 PM EST Reads: 381
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
Dec. 9, 2016 02:45 PM EST Reads: 631