Exterro bolsters legal GRC capabilities with acquisition of Divebell

Exterro, a leader in legal governance, risk, and compliance (GRC) software, announced its acquisition of Divebell, renowned for its advanced data discovery SaaS solution. This merger marks Exterro’s fourth acquisition since its alliance with Leeds Equity Partners in 2018, highlighting its expanding dominance in legal tech solutions.

Impact of Exterro’s Acquisition of Divebell on Legal GRC and Compliance Landscape

Combining Divebell’s high-end data discovery tools with Exterro’s robust legal GRC platform, the acquisition sets a new standard in addressing complex legal, regulatory, and compliance data challenges in organizations, government bodies, and large enterprises. This move is strategically placed to revolutionize how entities manage both structured and unstructured data for various crucial applications, including e-discovery, internal investigations, data privacy, security, breach response, and AI-related governance.

Bobby Balachandran, CEO & President of Exterro, emphasized the necessity of this integration: “In an era where data-centric regulations are tightening and organizational functions are converging under legal oversight, having an agile, accurate, and all-encompassing platform to automatically identify and contextualize all available corporate data has never been more crucial.” Balachandran further highlighted the critical role of this acquisition in managing the challenges posed by the rapid adoption of AI technologies, especially in ensuring the monitoring of training datasets for data governance, privacy, and intellectual property concerns.

Divebell and Exterro: Creating a Unified Platform for Data Governance

Echoing these sentiments, Divebell CEO and co-founder, Vikram Shrowty, outlined the potential of this partnership: “The combination of Divebell technology with Exterro’s world-class development team and its market-leading AI capabilities will result in faster, more powerful, and more cost-effective solutions to meet regulatory and compliance obligations.” The synergy between Divebell’s innovative software and Exterro’s established data platform is expected to provide seamless, automated visibility and risk remediation across data ecosystems.

Kevin Malone, Managing Director at Leeds Equity, added that Divebell’s acquisition is a pivotal element in Exterro’s strategy to dominate the market in comprehensive legal GRC and data governance software. This underscores Exterro’s commitment to advancing in the field of legal tech and its dedication to providing nuanced, technology-driven solutions for data governance and compliance challenges.

Reed Smith LLP was appointed as legal counsel for Exterro in this transaction, marking another milestone in Exterro’s growth trajectory and its vision for a more integrated, efficient approach towards legal GRC and data management.