Deals & People October 31, 2011

Schwab to Acquire Compliance Software Provider

The Charles Schwab Corporation has entered into an agreement to acquire Compliance11, Inc., a provider of cloud-based, regulatory compliance software.
Reported by

Compliance11, Inc. is a provider of cloud-based compliance automation software for public companies, brokerage firms, investment advisers, hedge funds, private equity firms, and pension funds. Its customizable platform provides companies with a series of compliance tools to assist in managing their disclosure, tracking, surveillance, and reporting needs, as well as more efficiently managing employee compliance with investment and trading activity regulations.

The company is based in Chicago and was founded in 2005. The acquisition is expected to close in the fourth quarter of 2011, subject to customary closing conditions. Financial terms of the transaction are not being disclosed.

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