Hitec Laboratories joins Mitratech's legal & compliance stable
Mitratech, which in February acquired eBilling startup Viewabill, has bought governance, risk and compliance (GRC) software provider Hitec Laboratories; its fifth acquisition of 2016.
Hitec has traditionally been most active in the financial services, commercial and public sector but counts law firms including Berwin Leighton Paisner (BLP) among its recent clients. The UK top 20 law firm uses Hitec’s PolicyHub solution, which ensures that key information is received and read by the right staff and leaves and auditable trail. In a case study from 25 July 2016, BLP’s head of risk, associate director Anne Avery said: “We invested in PolicyHub because we see it as a vital tool for communicating BLP’s core values and embedding a culture of compliance across the group.”
Other PolicyHub law firm clients include Morgan Cole and Charles Russell Speechlys, where the head of data protection and cyber security group, Robert Bond, spoke at a Hitec webinar in February last year about the dangers of not complying with data protection regulations from a compliance perspective.
As a combined organisation Mitratech’s clients now include a global network of more than 1,200 corporations and 12,000 law firms with over 25% of clients in EMEA and APAC. Its FTSE 100 corporate clients include British American Tobacco and consumer goods giant RB, where the legal team developed a bespoke document management system under former vice president and general counsel for group legal affairs, Claire Debney.
“Over the past four years, Hitec has experienced exceptional growth due to our innovative technology solutions and our increasing focus on regulated businesses, but we have now reached a point where we realize that in order for the business to continue its trajectory, we need a bigger platform to achieve our goals,” said Jeremy Crame, Hitec’s CEO & founder. “The acquisition by Mitratech will provide us with a wider market reach and increased investment, while Mitratech will benefit from our proven solutions, impressive client base, and dedicated team.”