GeoComply has announced the acquisition of OneComply, although the terms of the transaction were not disclosed.
Anna Sainsbury, GeoComply Co-Founder and CEO, said: “From our first interactions with OneComply, we have been excited about the opportunity to welcome them into the GeoComply family, and it gives me great pleasure to have completed that process.
“Licensing organisations and key individuals is necessary but can be a painful process for any entity working in regulated industries such as gaming or fintech.
“As an existing OneComply customer, we know just how much OneComply eases that pain, not just for us but also for the regulators administering the process.”
OneComply is a compliance and licensing management platform provider with expertise in gaming license management.
The platform created by OneComply allows operators, providers and suppliers to follow data, licensing and workflow projects through one single point of access.
Sainsbury continued: “Together, we will have unparalleled capabilities to support the mission-critical compliance needs of the gaming industry, including AML, KYC, licensing, geolocation, sanctions compliance and fraud prevention technology,”
The compliance tools from OneComply will be added to GeoComply’s portfolio, which includes fraud detection solutions and geolocation services.
Cameron Conn, OneComply Co-Founder and CEO, said: “As fellow Vancouver-based entrepreneurs, GeoComply has always been an inspiration.
“Our Co-Founder Aaron [Gould] and I are super excited about continuing our journey as part of the broader GeoComply team.
“I am sure that together we will amplify and enhance our world-class compliance and licensing solutions for regulated industries around the globe.”
Last autumn, GeoComply filed a lawsuit attempting to sue Xpoint for alleged patent infringement.
On the dismissal of the claim, Marvin Sanderson, CEO of Xpoint, said: “As a company, we remained confident that we would prevail in this matter as GeoComply’s allegations were false, meritless, and a thinly veiled attempt to improperly maintain its monopoly on the gaming geolocation marketplace.”
