Wilmington, a global provider of data, information, education and training services in the GRC sector, has announced the acquisition of Conversia, a Spanish market leader in data privacy and regulatory compliance solutions.
The deal marks Wilmington’s strategic move to expand its presence in the GRC market while entering the regulated data privacy sector for the first time. The acquisition supports Wilmington’s aim to diversify its portfolio, grow high-quality recurring revenues, and strengthen its market position through both organic growth and acquisitions. The transaction is subject to Foreign Direct Investment clearance in Spain.
Wilmington operates globally, offering specialised services and products that help organisations meet regulatory, risk management, and governance needs. Its portfolio spans information services, training programmes, and compliance solutions.
Conversia, headquartered in Barcelona, develops proprietary RegTech documentation generation software focused on data privacy compliance. It serves an addressable market of 3.2m SMEs and homeowner associations across Spain, enabling them to meet legally mandated requirements. Alongside its software, Conversia provides complementary training solutions, all developed in-house.
The Spanish company holds a leading position in its sector, benefiting from a rapidly growing market and significant opportunities for further expansion. Its experienced management team, incentivised to remain in the business for at least five years, is expected to play a central role in driving future growth under Wilmington’s ownership.
The acquisition aligns with Wilmington’s strategy of investing in its existing business and actively managing its portfolio of brands to enhance revenue quality and profitability. By adding Conversia, Wilmington gains access to a large, fast-growing segment of the compliance market, with more than 70% of Conversia’s revenues being annually recurring.
Wilmington CEO Mark Millner said, “This acquisition strengthens our position in the GRC markets and introduces Wilmington to the regulated Data Privacy sector. It aligns with our broader ambition to diversify and grow our portfolio of products and services. Conversia is the industry leader in a rapidly growing market in Spain for the provision of software and RegTech solutions, helping small and medium-sized enterprises meet legally regulated Data Privacy compliance requirements. It operates in a large addressable target market, delivering high quality revenues of which greater than 70 per cent. are annually recurring, and is led by an impressive, successful, and committed management team. This acquisition will add significant value across all our stakeholders. We look forward to welcoming Alfonso and his team to Wilmington.”
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