London-based RegTech company Cube is continuing its acquisition strategy with the purchase of Thomson Reuters Regulatory Intelligence and Oden products and businesses.
This acquisition follows Cube’s recent takeover of New York-based Reg-Room and their earlier acquisition of The Hub, an AI-driven data capture firm, in January. The integration of Thomson Reuters assets is expected to broaden Cube’s customer base to approximately 1,000 clients, significantly enhancing its reach within leading financial institutions globally.
Upon finalization of these deals, Cube’s workforce will expand to 600 employees, including around 250 qualified regulatory subject matter experts, legal professionals, and compliance specialists.
Ben Richmond, founder and CEO of Cube, commented, “Thomson Reuters is recognized as a leader in the industry for providing expert regulatory analysis and journalism. The combination of Cube’s AI technology with the extensive content curated by Thomson Reuters Regulatory Intelligence and Oden analysts will drive innovation and enable us to deliver transformative regulatory solutions for our clients.”
Cube was acquired from Bregal Milestone in March by European investor Hg, who aims to expand the company’s global presence through organic growth and further acquisitions.
Thomas Martin from Hg added, “We believe these acquisitions will foster innovation in the regulatory intelligence and change management sector, leading to increased demand for these high-quality solutions worldwide.”
Details of the Thomson Reuters acquisition have not been disclosed.