Microsoft has acquired Prodiance, a leading provider of Enterprise Risk Management (ERM) software.
"Spreadsheets and data are key to many organizations' operations, yet they're oftentimes created in uncontrolled environments. Today we took another step in helping customers mitigate this risk and improve data compliance and control," Microsoft blog announced.
With the purchase, Microsoft brings on board a company that serves insurance companies, banks and computer manufacturers.
Prodiance is a valued Microsoft partner and the company will now become a wholly-owned subsidiary. The acquisition of Prodiance enables deeper integration of compliance-related solutions into future versions of Office and SharePoint, namely:
- Increased security and control over critical business information in spreadsheets
- Comprehensive audit trails, policy enforcements and continuous monitoring of documents
- Risk mitigation and improved compliance through automated risk assessment
The Prodiance solution is already built on top of Excel and SharePoint Server. With the acquisition, Microsoft said it'll "enable even deeper integration of compliance-related solutions into future versions of Office and SharePoint."
"Prodiance has enabled over 100 Fortune 2000 companies to address some of their most complex challenges - mitigating the risk of material errors, while preventing fraud and non-compliance. The company's customers include the world's top computer manufacturer, several leading global insurance providers, and 4 of the top 5 largest financial services firms in the world," Microsoft stated.
The terms of the deal weren't disclosed.
For more information about the deal, refer this Q&A.
[Source: Microsoft blog]