EQS Group, a leading international cloud software provider for corporate compliance, investor relations and sustainability reporting, today announces that it has entered into exclusive negotiations for the acquisition of French company Data Legal Drive, a key player in the GDPR and anti-corruption compliance software market.
The strategic move will confirm EQS Group's leading position in the European compliance SaaS market, and strengthen the company's offering specifically in the area of data protection and GDPR compliance.
“The acquisition of Data Legal Drive will be a significant milestone for EQS Group and will bolster our expertise, particularly for GDPR compliance,” said Achim Weick, founder and CEO of EQS Group. “Since the regulation came into force in 2018, the cumulative fines exceeded €4 billion, highlighting the ongoing demand for GDPR support. With our collective track record in compliance and technology innovation, we will be in an ideal position to expand our services and address our customers’ compliance needs even more comprehensively. We look forward to welcoming Data Legal Drive's employees and customers to the EQS family as we work together to reinforce our leading position in the compliance SaaS market.”
Sylvain Staub, founder and CEO of Data Legal Drive, said: “With the experience of EQS Group in building a comprehensive compliance platform, we believe they are the ideal partner for our next stage of growth. Our strategy is to become the leader in compliance in Europe. Given the potential of our respective targets, we were convinced that EQS Group was what we were looking for to achieve significant growth in this business. The power of our combined expertise and services, both in compliance and digital innovation, will bring immense additional value to our customers.”
Founded in in 2018, when GDPR became European law, Data Legal Drive has swiftly emerged as a leading independent compliance software provider in France. Data Legal Drive’s solutions for GDPR and anti-corruption compliance are designed to empower organizations to navigate the complex landscape of data protection and regulatory requirements. Through the acquisition, EQS Group stands to gain valuable insight and experience from Data Legal Drive's legal and technology experts, offering significant synergies with EQS Group's product portfolio and customer base. In addition, Data Legal Drive will be able to leverage EQS Group’s extensive industry experience and market-leading position in the RegTech and compliance space, as well as consolidate its offering around AI and regulation stemming from the new EU AI Act. There are currently no changes planned for the services used by existing Data Legal Drive customers.
EQS Group expects to finalize the transaction in the coming weeks.