Kerv is acquiring Communications Compliance Practice from TDS Global Solutions to enhance its FCA-regulated compliance services.
The business, which is being rebranded as Kerv Communications Compliance Practice, provides compliance services to major financial organisations, including half of Tier 1 banks in the UK.
As a result of the acquisition, Kerv’s staff number will increase to over 500 and its new turnover forecasts are in excess of £60m.
Kerv Executive Chair, Alastair Mills, said: “Across all Kerv’s practices, we have a strong focus on helping our customers transform their business by migrating to and then transforming in the cloud.
“As we approach our second anniversary, this acquisition is another significant milestone in the development of the group.
“With the compliance world relatively slow to migrate to the cloud compared to other sectors, this is a transformation that is now happening at pace and Kerv is well placed to capitalise on this significant market trend.”
Communication Compliance Practice has 140,000 compliance channels with over three billion recorded calls.
Headquarters of the compliance company are in London, and it employs 40 staff from Europe, Asia, and North America.
The annual turnover for the business is over £10m with a 20% growth rate over the last year, which is forecasted to increase further over the current financial year.
Kerv will retain all of the newly acquired company’s staff. It has said that CEO Brad Gorton, Head of Strategy Paul Wilson and other Communications Compliance executives will step into senior roles at Kerv.
They will work with the Kerv Collaborate management team, which already has experience in the banking and financial sector.
Brad Gorton, Managing Director of the new Kerv Communications Compliance Practice, said: “We’re so excited to be joining the team at Kerv for the next stage of our journey.
“The opportunity to build on our global cloud capabilities, to extend our digital services and to accelerate investment in our automation, monitoring and proprietary technology by leveraging Kerv’s capabilities is fantastic for us and our customers.
“Bringing the rest of the Kerv group’s portfolio to our customers and providing our compliance expertise to the Kerv client base will help us accelerate our own growth even further.”
Communications Compliance Practice is partnered with compliance vendors such as Verint and NICE.
According to Kerv, the compliance business can “ensure and assure compliance across all channels”, such as Microsoft Teams, Zoom, Symphony, mobile, messaging, and social media platforms.
In 2020, Kerv was formed by a £30m merger of DoubleEdge Professional Services, Metaphor IT, and Foehn.
Last year, Kerv grew its annual revenue to £50m, following its acquisition of Gyrocom.
