TrustArc has announced the acquisition of Canadian counterpart, Nymity – a more boutique-style vendor known for its high standard of privacy research, expertise which manifests in its product offering.
Nymity was by no means an underdog in the realm of privacy software, but it wasn’t operating on the same scale as the major players, like OneTrust or Proteus, either. TrustArc, however, is a major challenger to these larger vendors and the Nymity acquisition might help it develop an edge on its competitors.
While the joining of TrustArc and Nymity is officially an acquisition and not a merger, the spirit of the consolidation is one of mutual respect. Terry McQuay, president and founder of Nymity, notes the two organizations had similar cultures and values. "[T]he more I learned about TrustArc, the better I felt,” said McQuay about initially investigating the possibility of a deal.
From a feature standpoint, both organizations felt that there was an affinity between the products, believing the two would complement each other. Nymity’s Privacy Management Accountability Framework is to be merged with TrustArc's Privacy and Data Governance Framework, and TrustArc's Privacy Intelligence platform will receive additional power from Nymity’s research expertise.
Source: TrustArc at SoftwareReviews, Report Published November 2019
The TrustArc-Nymity pairing seems like a good match, and the hybrid solutions TrustArc will now be able to offer are likely to be very good at what they do. However, according to the data complied by SoftwareReviews, data mapping is one of TrustArc’s weakest scores, and it is not immediately clear whether the incorporation of Nymity’s solutions will help improve this feature.
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