Pinsent Masons sells compliance business to Dow Jones
UK firm sells Cerico compliance business it co-founded in 2013
March 19, 2018 at 05:57 AM
2 minute read
Pinsent Masons has sold its online compliance solutions business Cerico to business and financial information company Dow Jones.
Pinsents launched Cerico in 2013 as a joint venture with IT consultancy Campbell Nash, subsequently taking a majority stake in 2015.
Cerico is a technology platform that automates many of the compliance processes related to the Bribery Act and the Health and Safety at Work Act.
As part of the deal, Pinsents will continue to provide the legal content for the product and deliver supplementary legal compliance support and consultancy to Dow Jones' clients where required.
Pinsents senior partner Richard Foley said: "We are proud with what we have achieved with Cerico. It has proven an immense success with our clients, and further highlighted our ability to combine people, process and technology to create innovative solutions in the world of new law.
"As the business has moved toward its next phase of growth, it has been clear that it will need to integrate with a wider range of business and financial data to support the full range of client need. In that respect, Dow Jones is the perfect partner to ensure that Cerico achieves its full potential."
Dow Jones head of professional information business Chris Lloyd added: "Cerico is an excellent fit for Dow Jones as we move further into offering fully integrated solutions for our clients. Combined with Pinsent Masons expertise in this area, we now have a unique and holistic offering to take to the market."
Cerico has 15 staff, who will continue to trade from Pinsents' Glasgow premises but will move into Dow Jones' premises in due course.
When Pinsents bought a majority stake in Cerico, Pinsents partner and head of client operations Richard Masters became executive chairman of the company.
Pinsents has invested in a number of other alternative delivery models and services, including legal resourcing hub Vario in 2012, as well as in 2017 buying a minority stake in 'new law' startup business Yuzu, and acquiring diversity and inclusion consultancy Brook Graham.
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