Accuity’s Acquisition of Safe Banking Systems

Cravath represented RELX Group in connection with the transaction. Evercore served as financial advisor to SBS and Lowenstein Sander LLP served as legal counsel to SBS.

Accuity finalized the acquisition of Safe Banking Systems (SBS).

SBS is a specialist provider of innovative Know Your Customer due diligence and anti-money laundering solutions that enable financial institutions to identify, assess and manage risk across the enterprise. SBS’s solutions perform advanced false positive reduction and risk assessment in the account screening process across a number of sectors, including high volume banks and non-bank financial institutions, bringing greater intelligence for entity resolution to clients worldwide.

Accuity, part of RELX Group, is a leading provider of innovative solutions for payments and compliance professionals, offering comprehensive data and software that manage risk and compliance, and flexible tools that optimise payments pathways through its Fircosoft, Bankers Almanac and NRS brands.

SBS is already a long-standing partner of Accuity’s Fircosoft business, leveraging the Fircosoft filter in its solutions. Accuity and SBS share many mutual customers, which benefit from their complementary offerings. This acquisition will allow Accuity to strengthen these benefits to clients as they face an evolving, complex and costly regulatory environment, providing Accuity with an enhanced and leading account screening solution, and complementing its transaction and trade screening offerings.

The Cravath team was led by partners Aaron M. Gruber (Picture) and Mark I. Greene and includes associates Lee M. Blum and Fay E. Krewer on M&A matters; partner David J. Kappos and associate Joel Feigenbaum on intellectual property matters; partner J. Leonard Teti II and associate Kiran Sheffrin on tax matters; partner Eric W. Hilfers, practice area attorney Romica Singh and associate Philip F. Schreiber on executive compensation and benefits matters; partner John D. Buretta and associate Megan Y. Lew on compliance matters; partner Christine A. Varney and senior attorney Jesse M. Weiss on antitrust matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Summer associate Isaac H. Todd also worked on M&A matters.

Lowenstein Sandler represented Safe Banking Systems with a team including Raymond P. Thek, Alex D. Leibowitz, Pooja Patel, Mitchell McDonald, and Zarema A. Jaramillo.

Involved fees earner: Aaron Gruber – Cravath Swaine & Moore; Mark Greene – Cravath Swaine & Moore; Lee Blum – Cravath Swaine & Moore; Fay Krewer – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: RELX Group plc;


Author: Ambrogio Visconti