Lombard Risk will pay up to Â£3m for the business and will acquire all of the share capital of STB Systems on completion, which is expected within 7 days.
From its position as market leader in the UK, STB Systems has developed comprehensive international regulatory, anti money laundering and compliance systems, supplying industry-leading products STB-Reporter (regulatory reporting including Basel II), STB-Detector (financial crime detection) and STB-GlobalView (management systems and controls).
STB Systems, led by Michael Thomas, will provide Lombard Risk with significant market share in the compliance automation market and considerable expertise in the areas of regulation, anti money laundering and compliance. Lombard Risk will fully exploit STB Systemsâ capabilities, adding significant competitive advantage in terms of its existing business relationships and specialist expertise.
Commenting on the acquisition, John Wisbey, Chairman and Chief Executive of Lombard Risk said: "We are delighted to welcome STB Systems into the Lombard Risk Group. STB has an excellent client base, and this acquisition significantly expands our activities in the area of regulation and compliance, allowing us to offer an even more comprehensive offering to our clients and further expand our marketplace opportunities".