Data intelligence and insights vendor, Veda, has acquired independent financial and supplier risk assessment provider, Corporate Scorecard (CSC), to strengthen its position in the commercial credit and supplier risk space.
Corporate Scorecard’s founder and managing director, Graeme Gribben, will be succeeded by Veda commercial credit and procurement risk general manager, Moses Samaha.
Veda CEO, Nerida Caesar, said the company chose CSC for its strength in procurement risk solutions, which has a strong market appeal.
“We have made significant investments to our commercial credit and supplier risk portfolio in the last 18 months and this targeted acquisition further accelerates our market position.
“Corporate Scorecard will now be able to leverage Veda’s data intelligence and insights making this acquisition a ‘win-win’ outcome for both parties,” she said.
She also claimed the acquisition of Corporate Scorecard was very targeted, is a natural fit with Veda’s existing commercial credit and supplier risk portfolio and synergistic with its credit analytics capabilities.
According to Caesar, CSC’s financial viability and risk advisory services to government and private enterprises would enable Veda to expand its reach into those verticals.
“CSC will not only help Veda increase its reach within the government sector and other key verticals, but over time also offer better financial risk assessments to existing customers looking to manage their credit and/or supplier risk needs,” she added.
Gribben said the acquisition is a natural fit for CSC.
“Veda’s approach to strategic growth in this space will help to grow and invest in the future development of Corporate Scorecard’s services to ensure we are delivering the best possible solutions to our customers,” he claimed.