SmartSearch has acquired Credas Technologies Ltd, aiming to strengthen its digital compliance services for regulated firms in financial services, legal, accountancy, property, and insurance.
The move will bring together Credas’ technology and SmartSearch’s platform.
Phil Cotter, CEO at SmartSearch, said: “This acquisition enables us to streamline onboarding and monitoring for regulated firms, combining complementary technologies to deliver greater efficiency and accelerate product development.”
SmartSearch currently works with over 7,500 customers in the UK, providing automated sanctions, PEP, UBO, and adverse media screening.
The combined business will now serve more than 8,500 regulated firms.
Tim Barnett, CEO at Credas, said: “With financial crime on the rise, digital identity verification is more critical than ever.
“Joining SmartSearch allows us to help more businesses protect themselves and maintain compliance.”
The acquisition is supported by SmartSearch’s investors, Triple Private Equity.
Ben Shepherd, head of value creation and founding partner at Triple, said: “The acquisition of Credas reflects SmartSearch’s continued upward trajectory in the market for digital compliance solutions.
“We have no doubt that SmartSearch, with the addition of Credas, will continue to trailblaze in this fast-moving market.”
