AuditBoard, an AI-powered risk management platform for audit, risk and compliance, has agreed to acquire FairNow, an end-to-end AI governance platform.
Financial specifics of the deal have not been divulged.
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FairNow’s technology is expected to enhance AuditBoard’s capabilities by providing intelligent, automated AI compliance guidance.
AuditBoard stated that this deal will help its customers in maintaining compliance and managing AI-related risks.
FairNow’s platform is claimed to help organisations to efficiently manage their AI governance processes with a streamlined AI registry, dynamic risk assessments, and intelligent automated compliance. This integrated system bridges the gap in executing AI governance strategies.
The incorporation of FairNow’s AI governance solution complements AuditBoard platform’s features, including natural-language workflows, continuous auditing and monitoring, document intelligence, and agentic AI.
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By GlobalDataIt is expected to result in a comprehensive, AI-driven platform that manages risk from start to finish.
Commenting on the deal, FairNow founder and CEO Guru Sethupathy said: “FairNow believes that governance will be the key enabler in the age of AI – managing risks while building trust and driving adoption.
“Our mission to simplify AI governance will be accelerated with AuditBoard, the clear leader in AI-powered connected risk. Joining AuditBoard is the logical next step in our journey to scale our impact. We look forward to working with the AuditBoard team to solidify the platform’s position as the global go-to solution for modern risk management – intelligent, automated, and connected.”
Meanwhile, alongside the acquisition announcement, AuditBoard has launched Accelerate, an AI solution that delivers enhanced workflow efficiency and document intelligence for governance, risk, and compliance (GRC) teams.
AuditBoard CEO Raul Villar Jr. stated: “Integrating FairNow into AuditBoard’s Connected Risk Platform delivers the most comprehensive and modern solution on the market, directly addressing the enormous risks that come alongside this technology.
“Combined with the launch of Accelerate, this acquisition will set AuditBoard apart by leapfrogging nascent competitive offerings and empowering our customers to transform their risk and compliance programmes.”
