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AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters

  • Acquisition Announcement:
    • Cube, a UK-based regtech firm, has acquired the Regulatory Intelligence and Oden products and businesses of Thomson Reuters.
    • Terms of the transaction have not been disclosed.
  • Strategic Significance:
    • Described as a “major step forward” in Cube’s growth plans.
    • The acquisition will expand Cube’s range of regulatory intelligence and regulatory change services.
  • Impact on Customer Base and Workforce:
    • Cube’s global customer base is expected to grow to approximately 1,000 clients across various sectors such as payments, banking, insurance, and asset and investment management.
    • Cube’s global workforce will increase to around 600 employees.
  • Capabilities and Services:
    • Regulatory Intelligence tracks and analyzes regulatory changes from 2,000 regulatory bodies across 20 countries.
    • Oden provides automated solutions for compliance with state rules and regulations on personal and business insurance in the US.
  • Statements and Vision:
    • Ben Richmond, founder and CEO of Cube, highlighted that combining Cube’s AI with Thomson Reuters’ curated content will accelerate innovation and deliver enhanced regulatory transformation capabilities.
  • Company Background:
    • Founded in 2011 and based in London, Cube specializes in a regulatory AI engine and tech platform that monitors and evaluates laws, rules, and regulations across multiple countries and languages.
  • Previous Acquisitions:
    • The acquisition continues Cube’s strategy after it acquired The Hub, another regtech firm, in January last year

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