Riskonnect, an Atlanta-based provider of software and solutions that help companies manage risk and government compliance, has made significant moves into the United Kingdom, opening a Belfast office and acquiring a London-based company within the same week.
Invest Northern Ireland, the economic development agency, announced last week that Riskonnect would hire 100 in what will become a new “FinTech Centre” in the Northern Irish capital.
About a quarter of those positions have already been filled, with the company still recruiting engineers and developers for the rest. With payroll expected to exceed £3 million yearly, Northern Ireland’s government is contributing “expert advice” and £416,000 (about $509,000) in financial incentives toward the jobs created, according to a news release.
Andrea Brady, Riskonnect’s chief marketing officer, met with Invest NI CEO and Northern Ireland Economy Minister Diane Dodds in New York March 10 as the deal was solidified. Both sides emphasized Belfast’s advantages for financial technology, a burgeoning industry where Atlanta also has clear strengths.
“Northern Ireland’s burgeoning fintech sector, together with a dynamic and highly educated workforce, makes Belfast an obvious choice for us,” Riskonnect CEO Jim Wetekamp said in a statement that pointed to the local talent base and links between universities and the private sectors as strengths.
Nearly a week later, Riskonnect announced it would acquire London-based Xactium, giving the company 60 more customers to add to its 900 across some 50 countries on six continents. Mr. Wetekamp praised Xactium’s innovative solutions as a key addition to the Riskonncet portfolio.
“Today’s enterprise risk landscape is dominated by uncertainty, complexity, and change. Staying ahead requires a robust combination of expertise, intelligence, and technology. Xactium delivers on all three fronts,” he said in a separate statement. The terms of the deal were not disclosed.
Riskonnect has 500 employees throughout offices in the U.K. and India in addition to Atlanta.