BRENTWOOD, TN, SEPTEMBER 15, 2015 – Ncontracts announced the acquisition of Strohl Risk Solutions, reinforcing its position as the leading provider of risk management solutions for financial institutions.
The combination delivers a suite of comprehensive risk management software and services to a rapidly-expanding customer base of a combined 550 financial institutions located in 38 states. The transaction demonstrates Ncontracts’ ongoing investment in the company’s growth and innovation, and its commitment to improving risk management for financial institutions in the United States.
“We are thrilled to add these great Strohl customers and employees to the Ncontracts family. The team at Strohl has built a strong reputation as an innovative leader in risk management,” said Michael Berman, CEO of Ncontracts. “This acquisition is the natural progression of Ncontracts’ strategic growth plan. The addition of Strohl’s products and team enables Ncontracts to provide unified risk management solutions and best-in-class service to help financial institutions decrease risk, improve compliance, and control costs. We are very excited about the opportunities moving forward together brings.”
Eric Strohl, President & CEO of Strohl Risk Solutions, had this to say about the union, “The combination of both companies is very exciting, creating a compelling story for all financial institutions looking for a trusted risk management provider. The strength and experience of the combined teams will further our shared vision for growth while helping our customers reduce risk and lower the cost of regulatory compliance.”
This union creates one of the most powerful and state-of-the-art risk management technology suites available for financial institutions. In today’s increasingly complex and regulated environment, financial institutions now have a complete solution that is efficient, cost-effective and protects their most critical business processes.
Terms of the acquisition were not disclosed. Michael Berman, CEO of Ncontracts, will continue his role as CEO of the newly-combined company. Eric Strohl, the current CEO of Strohl Risk Solutions, will become President of the newly-combined company.