SAI Global Group announced today the completion of the sale of SAI Global Assurance, its Standards and Assurance Services division, to Intertek Group (“Intertek”), a Total Quality Assurance provider. SAI Global Assurance previously formed part of the wider SAI Global Group owned by funds affiliated with the private equity firm Baring Private Equity Asia (“BPEA”).
The successful completion of the transaction allows SAI Global Group to simplify its strategy as a world-leading, pure-play risk, learning, safety, and sustainability software and technology solutions provider. Proceeds from the transaction will eliminate all outstanding debt to further strengthen the Company’s balance sheet and accelerate planned investments in its SaaS cloud software solution suite, SAI360, emphasizing R&D and global sales and marketing capabilities.
Following the sale, the SAI360 Governance, Risk, and Compliance (GRC) platform business will rebrand as SAI360, unifying its name, logo, market presence, and identity around its cloud-first SAI360 platform. Earlier this month, SAI360 was recognized as a Leader in the 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools for the third year in a row.
SAI360 Chief Executive Officer Peter Granat said: “I am excited for this next chapter of the SAI360 journey. The elimination of debt creates broad strategic flexibility and allows us to accelerate our R&D investments as a leading pure-play cloud software and content business across the risk, ethics, compliance, safety, and sustainability space.”
“After the strategic sale of SAI Global Assurance, we now have a world-class GRC platform in SAI360 which commands a strong reputation in the market. BPEA is looking forward to supporting Peter and the SAI360 team in not only further expanding SAI360’s industry-leading technology and go-to-market capabilities, but also to pursue new strategic growth opportunities,” commented BPEA Managing Director Nicholas Macksey.