CaseWare IDEA Announces Acquisition of SymSure Continuous Monitoring and Continuous Auditing Solutions
Toronto, Canada – May 6, 2010 – CaseWare IDEA Inc. today announced its intention to acquire the intellectual property (IP) and other operating assets of SymSure Limited, a leading developer of continuous monitoring and continuous auditing solutions. SymSure’s technology provides a framework that enables organizations to monitor, document and address internal control weaknesses. The solution manages risks and controls from an enterprise level by examining the details of transactions and data files. With the acquisition of the SymSure solutions, CaseWare IDEA strengthens its position as a leading supplier of audit, analysis and monitoring solutions.
“Last year we began a technology collaboration with SymSure, and as a result of that relationship we became convinced that we needed to bring this technology and expertise into our group,” said Bob Cuthbertson, Chief Operating Officer, CaseWare IDEA Inc. “The SymSure products and people are a valuable addition to our product range and our corporate group.”
SymSure products will be rebranded under the CaseWare brand and marketed by a newly formed company, CaseWare RCM Inc., a subsidiary of CaseWare IDEA Inc. Andrew Simpson will assume the role of Chief Operating Officer.
“This is a natural evolution of our relationship with CaseWare IDEA that will certainly redefine the industry,” said Andrew Simpson, CEO and Founder of SymSure Limited. “There are clear strategic benefits that immediately put us in a position of leadership with customers and partners. We will continue our relentless commitment to innovation that has allowed us to deliver the most compelling value proposition in the marketplace,”
Existing SymSure customers will benefit from increased investment in product development and support resources as well as a strengthened international distribution network. The CaseWare RCM team will be working hard to ensure a seamless transition.
About CaseWare IDEA Inc.
CaseWare IDEA Inc. is a privately held software development and marketing company, with distributor partners around the world. The company is the developer of IDEA® – Data Analysis Software used in 16 languages in 90 countries by major accounting firms, federal, state, provincial and local government, corporations in all industry sectors and by universities as a teaching tool.
About SymSure Limited
SymSure Limited is a global software company providing solutions and services for continuously monitoring controls and risks across the enterprise. Its clients include a wide variety of organizations ranging from financial institutions, manufacturing, law enforcement agencies and government departments.
