Top Systems acquires a risk management and regulatory compliance company

by time news

Top Systems, which is traded on the Tel Aviv Stock Exchange, acquires control of KCS, a company that develops and sells solutions – government systems, risk management and regulatory compliance (GRC) – and quality management systems (QMS), for NIS 3.1 million. The merger will be carried out through ActionBase, a company controlled by Top ActionBase. The other operating systems in the other areas will remain in their existing format.

KCS develops and implements an infrastructure system for compliance solutions in regulation and control. KCS has customers in a variety of industries: government, banking, finance, industry and more.

Top Solutions, a subsidiary of Top Systems that owns ActionBase, has developed and implemented the AB4GRC platform – a comprehensive GRC management platform, including: risk management, internal audit, compliance, SOX, cyber protection and more.

The merger will provide customers with more comprehensive solutions due to the synergy of the two companies and complement each other ,. According to the STKI rating, Top and KCS’s GRC solutions are placed in the Tier 1 category in the Israeli market.

According to Simon Cholsky, CEO of KCS, “The connection between KCS with the Generica solution and the Top Group with the AB4GRC solution makes it possible to create the leading body in Israel in the GRC field with complementary solutions to each other and a power multiplier of experts and knowledge, which will add value. Customers and will provide a professional and unique development and implementation team in the market. “In the coming years, the company’s main goal is to make its products the leaders and most advanced in the world and to conquer the international market in the field of GRC, which is going to double itself by 2026”.

According to Eyal Barnea, CEO of Top Solutions, the merger between KCS’s and Top Solutions’ activities in the GRC field, constitutes a real synergy between two companies that specialize in the currently sought-after field and offer complementary solutions. “GRC and a variety of AB4Business solutions that the company develops and implements. We are pleased that KCS, its managers and employees have joined Top Solutions and the Top Group, which is one of the growing IT companies in Israel.”

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