With Latest Acquisition, Mitratech Expands into Immigration Tech Compliance
Mitratech's acquisition of immigration management solution provider Tracker Corp. comes a month after the company purchased CMPG Risk Solutions, and adds to the at least half dozen M&A deals it has made since 2015.
July 31, 2020 at 12:01 PM
3 minute read
The acquisition spree continues. Today, enterprise legal and compliance technology provider Mitratech announced it acquired immigration management solution provider Tracker Corp. in a bid to expand its risk management offerings. Among Tracker Corp's offerings are an immigration case management platform and an end-to-end work authorization compliance management solution.
Mike Williams, CEO of Mitratech, noted the acquisition gives the company "the opportunity to work with [the] HR [department]" in addressing staffing-related risks. He also said that Tracker Corp.'s products are well positioned to meet the unique staffing challenges companies face during the COVID-19 pandemic.
"[Immigration] regulations do continue to evolve, but probably the big macro condition that's relevant for us today is the notion of a remote workforce. The majority of new employees being hired today are being hired remotely, and that's a challenge for many companies."
He added that "part of what Tracker Corp offers is [the ability] to manage that remote onboarding and to provide a remote verification of [employee] identification materials."
Williams noted that Mitratech plans to provide "full support" to all existing Tracker Corp. customers as well as continue to offer the company's product line on the market.
The acquisition of Tracker Corp. comes a little over a month after Mitratech purchased CMPG Risk Solutions, which offers risk management software for the financial, healthcare and insurance industries. Mitratech has also completed at least six M&A deals from 2015 to 2017 and more recently acquired workflow software provider Thinksmart in 2018.
In recent years, the company has also evolved its offerings by revamping its legal management software in late 2018 and releasing a new legal hold product in early 2019.
Williams noted that Mitratech aspires "to be the global partner to enterprises and organizations when it comes to legal risk and compliance management. A lot of those organizations would buy multiple solutions from one vendor rather than have relationships with a lot of vendors. By expanding our portfolio, [we can] provide the ability for even our existing customers to do more business with us."
To be sure, Mitratech is just one of many entities offering immigration compliance technology. Along with several startups, Big Law players like Littler Mendelson and a host of immigration firms are also developing technology to help clients stay comply with fast-evolving immigration regulations.
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