The amount of the deal was not disclosed.
Rivo provides an innovative suite of mobile solutions—operated through apps for iOS, Android and Windows mobile platforms to enable brands to manage incidents, audits and inspections, corrective actions, and other corporate risk and compliance reporting.
The acquisition serves to grow Sphera’s portfolio of cloud-based applications, enhance its health and safety software solutions and services, further increase its global presence, and expand its talent base of software developers and industry experts with Rivo’s experienced software development and product teams.
For Rivo customers, the acquisition provides access to a new suite of complementary products as well as access to a large library of regulatory information and content.
Led by President and CEO Paul Marushka, Sphera is a portfolio company of Genstar Capital, a middle-market private equity firm, which acquired the OERM business (now Sphera) from IHS Markit in June 2016. Prior to the acquisition, Rivo was backed by technology investors Kennet Partners and Eight Roads Ventures.
FinSMEs
09/04/2017