Kerv, a cloud and digital transformation services firm based in London, has recently announced that it has successfully completed the acquisition of TDS Global Holdings’ Communications Compliance Practice business.
With this deal, the two firms will augment the capabilities of FCA-regulated compliance services. The deal will value the total turnover of Kerv to around £60 million ($71 million) with 500 plus staff and building the top-class compliance technology practices serving the UK’s Tier 1 banking and financial services sector.
According to sources, the new Kerv Communication Compliance Practice offers mission-critical communications compliance services to some of the leading financial services organizations around the globe. This includes 50% of Tier 1 UK banks with around 140,000 networks of compliance recording and around 3 billion captured calls managed globally.
The business employs around 40 staff in Asia, Europe and North America, with headquarters based in London and a 24hr global service operations center in Cardiff.
With the annual turnover exceeding £10 million ($11 million), the Practice is said to be constantly winning new customers, achieving a growth rate of 20% in the last fiscal year and estimated to surpass that growth in the current period.
Furthermore, the acquisition is expected to solidify the current proposition of Kerv around all aspects of compliance.
As per credible sources, Brad Gorton, CEO, and Paul Wilson, Head of Strategy of the Communications Compliance Practice, will be joining Kerv in senior roles, working side by side closely with the management team at Kerv, which already holds a strong footprint in the financial service and banking market.
In addition, Kerv also plans to keep hold of its staff in the Practice and continue to make funding in the business to strengthen its global footprint and build on its growth.
Source Credit - https://www.businesswire.com/news/home/20220711005090/en/Kerv-Announces-Acquisition-of-TDS-Global-Communications-Compliance-Practice-to-Accelerate-Cloud-Adoption-in-Financial-Services-and-Tier-1-Banking-Organisations