Diligent Acquires Brainloop to Expand Governance Cloud Offering with Secure Virtual Data Rooms for the Enterprise
Transaction combines leading German secure communication and collaboration company with the enterprise governance management leader; two trusted companies committed to the highest standards of data protection and privacy.
Diligent Corporation (“Diligent” or “the Company”), the leader in enterprise governance management and the most trusted provider of secure board collaboration solutions, today announced the completion of its acquisition of Brainloop. Brainloop is the leading supplier of virtual data room software used within the enterprise for high-security collaboration on confidential documents. Headquartered in Munich, Brainloop will become Diligent’s continental European hub and will continue to be led by its current management team, including Chief Executive Officer Thomas Deutschmann and Chief Technology Officer Eike Schmidt. The financial terms of the transaction were not disclosed.
Brainloop is the leading provider of secure cloud storage for enterprises in Germany and throughout continental Europe. Brainloop protects its customers’ most important and sensitive data through high-security applications and delivers efficient solutions for communication, collaboration and the exchange of confidential information. Founded in 2000, Brainloop today serves thousands of users on six continents, including a number of blue-chip European corporations.
As part of Diligent, Brainloop will continue to operate as an independent company and serve its clients under the Brainloop brand, while having the opportunity to leverage Diligent’s robust resources to scale globally. Brainloop will maintain its customers’ data in its existing secure data centers throughout Europe. More than half of Diligent’s revenue is derived outside of the United States, and now, combined with Brainloop, Diligent is the leading secure communication and collaboration tool for enterprises in continental Europe. Together, Diligent and Brainloop will offer a highly complementary product suite to a global base of clients, including Diligent’s industry-leading Governance Cloud offering and Brainloop’s high-security virtual data rooms.
“Diligent is committed to providing the tools that boards and leadership teams need to manage their organizations securely and effectively, and we are excited about this new capability to extend our Governance Cloud offering more broadly across the enterprise,” said Brian Stafford, President and Chief Executive Officer of Diligent.
“We have long respected the trust and sterling reputation in Europe that Thomas and Brainloop have established through their highly secure virtual data room and collaboration solutions. Together, we look forward to bolstering Diligent’s presence in the high-growth DACH region and throughout Europe and offer our clients world-class products at the highest standards of security.”
“Data security and privacy have always been of utmost importance to Brainloop, and we are excited to find a partner in Diligent who cares as deeply about security and client data privacy as we do,” said Thomas Deutschmann, Chief Executive Officer of Brainloop. “Diligent was looking for a virtual data room to scale globally, and we are proud that they found that in Brainloop. We look forward to delivering a broader enterprise governance management solution to our clients, in partnership with the Diligent team.”
District Capital Partners served as the financial advisor, Willkie Farr & Gallagher LLP served as the legal advisor and Spitzberg Partners served as the strategic advisor to Diligent. ARQIS served as the legal, tax and financial advisor to Brainloop.
About Diligent Corporation
Diligent is the leader in Enterprise Governance Management and provides secure corporate governance and collaboration solutions to boards and senior executives through its Governance Cloud offering. Over 14,000 clients in more than 90 countries and on all seven continents rely on Diligent for secure distribution of board materials, as well as secure messaging, integrated compliance, board evaluation and entity management. Governance Cloud is the only solution that meets the evolving governance needs of leading organizations. Visit www.diligent.com to learn more.
Founded in 2000, Brainloop is a market-leading provider of highly intuitive software-as-a-service (SaaS) solutions. These solutions enable its customers to securely manage and collaborate on confidential documents and information, both within the company and beyond. Brainloop’s customers comprise numerous Fortune, FTSE and DAX companies across a wide range of sectors, both private and public. These customers rely on Brainloop’s regulatory and corporate compliance, collaboration and process capabilities, as well as its complete portfolio of security features. These features include full encryption, audit trail, two-factor authentication, and provider and administrator shielding, combined with a convenient and easy-to-use interface. To learn more, visit http://www.brainloop.com