PSG Equity has acquired a majority stake in risk solutions software platform, Protecht Group, for AU$445m.

David Bergmark, co-founder and CEO of Protecht, said the investment marks a significant milestone for the risk software provider as it embarks on its next phase of growth.

“We share a vision to supercharge Protecht’s offering with AI, driving innovation and advancing the transformation of risk. With PSG's support, we are poised to enhance our offerings and provide great value to our clients, helping them navigate the complexities of today's regulatory landscape.”

Adam Marcus, managing director at PSG added: "The global risk management market is projected to reach nearly US$22bn by 2029, underscoring the immense need for innovative and scalable solutions. In our view, Protecht, with its strong client retention, stands out as a leader in the GRC software space.

"We believe Protecht is positioned to capitalise on this growing market and we are excited to partner with the team to help drive the next phase of their global expansion and innovation."

AGC Partners served as sole financial advisor to Protecht, while JWS served as legal advisor. PSG was advised by legal counsels Baker McKenzie and Weil, Gotshal and Manges.

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