Orsus, a developer of situation management software, announced Tuesday that it has acquired the IP assets of Irish-based Cinario, a UK leader in Intelligent Operational Risk Management Systems. In addition, the company also announced that it has secured funding from existing internal investors, which not only made the recent acquisition possible, but will also help the company grow.
According to a statement issued by Orsus, the acquisition of Cinario, which was founded in 2002 and has a client list that includes Wal-Mart, Dixons and Johnson Controls, will help the company expand its reach into the UK, as well as improve its market position in Intelligent Operational Risk Management solutions.
Former Cinario CEO Charlie Sherlock and CTO John Breen will now join Orsus’ management team, as the company looks to change Cinario Enterprise Manager software clients over to Orsus’ Situator platform.
