DFIN Acquires Guardum to Strengthen Global Data Privacy
Feb 18, 2022
With the increase of data flowing over the internet, the risk of security breaches increases. Since advertisers trade personal information, a company’s important documents need to be shared securely to avoid data leaks. However, without precautionary measures like secure passwords, two-factor authentication, encryption, anti-malware, and ad blocking tools, the internet is still a wild and dangerous place where your information may be bought and sold.
DFIN acquired Guardum with the aim of making the internet more secure. The transaction was finalized on the 13th December of 2021 to reach the common goal of making global data privacy stronger and more accessible to everyone.
What is DFIN?
DFIN was founded in 1983 on the promise of providing the best possible service to its customers. At first, it was only a financial division of RR Donnelley and Sons, but in time it evolved into one of the market experts in regulatory and financial technology. Today Donnelley Financial Solutions delivers confidence and combats market fluctuations by using the newest tech. There are four values that guide company actions:
- Purposeful agility
- Collective genius
- Uncompromising integrity
- Bold action
What is Guardum?
Guardum is an English company that first required funding in February 2020. It is a business that focuses on finding its customer’s personal data while scrambling, redacting, or anonymizing it so that it is compliant with the latest regulations. Their software solution takes care of every personal detail, giving back control to the person affected by document scanning or other outside influences. Guardum confirms that their solution can scan millions of pages in mere minutes while looking for sensitive data.
Reasons for the acquisition
At some point in the development, it was clear to DFIN that to grow as a useful solution for more businesses, they would need to acquire a company like Guardum.
DFIN acquires Guardum, the English software solution, and in doing so, combined their existing practices to provide a service that will increase data protection worldwide. This increase in security also translates to a more refined business model by DFIN, enabling them to offer more benefits for their clientele.
Targets for the acquisition
Thanks to the solution that Guardum developed, scanning documents for clients will be smoother, as their technology allows searching through documents in their native format without having to convert them. This cuts the processing time, which means DFIN can provide their clients with even more refined tools for their compliance needs.
This is a big event in the data privacy sector. However, the acquisition cost has not yet been disclosed.
Future of the industry
Craig Clay, the president of Global Capital Markets at DFIN, had the following to say about the Guardum acquisition: “Incorporating Guardum’s data security and public information technology into our platform creates privacy intelligence by identifying and protecting our clients’ sensitive data, automating time-consuming processes, and reducing the risk of exposing sensitive data to comply with the growing number of privacy regulations in an ever-changing digital world.”
On the other side of the deal, Guardum’s co-founder, Rob Westmacott, shared his opinion: “Working together, we will develop software solutions that will help lower overall compliance spending and significantly mitigate risk for organizations throughout the globe.”
Both parties seem eager to impact the data privacy sector and help people protect their personal information. The future of this industry is uncertain, but with acquisitions like this, it is becoming increasingly clear that sharing data will be better protected. In turn, this will also strengthen the Venue data room that Donnelley Financial Solutions offers.
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