German-base SAP AG announced that it will acquire California-based Virsa Systems for an undisclosed sum. The deal is expected to close by the end of May 2006.
Virsa Systems makes solutions that help companies with compliance in government regulations such as HIPAA, Sarbanes-Oxley, GBL, and others. The solutions enforce business controls in real time across enterprise systems and legacy applications. Virsa Systems and SAP have an established working relationship that includes joint marketing as well as sales and product development. In March 2005 SAP began reselling Virsa’s Compliance Calibrator as an add-on to SAP's mySAP ERP solution suite.
"Leading companies are looking to adopt an integrated view of governance, risk and compliance instead of the current reactive and fragmented approach," said Shai Agassi, president of the Product & Technology Group and executive board member, SAP AG. "Acquiring Virsa extends the value of SAP applications and represents a key component of our strategy to be the primary source of enterprise risk management support, regardless of company size or industry segment."
Virsa Systems, founded in 1996, is funded by investments from venture capitalists including SAP Ventures, Kleiner Perkins Caufield & Byers, and Lightspeed Venture Partners.
