APEX Analytix, Inc. Acquired by PNC Equity Partners, II, L.P.
Some M&A activity in the Continuous Controls Monitoring (CCM) space this week. For those of you unfamiliar with Apex Analytix, they are an AP-focused player in CCM, with a long heritage in recovery audit services.
In our opinion, their points of distinction in the CCM space have been their move from being a services-only firm to a technology-enabled services firm. They now sell the software (called FirstStrike) that they previously developed as "internal use" for their recovery audit projects. Visual Risk IQ is an affiliate partner with Apex, and uses output from First Strike as one of many inputs for a Continuous Risk Assessment program that we've implemented for one of our clients.
Stay tuned for updates on what the acquisition may mean for Apex.
Tuesday, May 12, 2009
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