Serent Capital has announced that its portfolio company, Pondera Solutions, a cloud-computing solution that combats fraud, waste, and abuse (FW&A) in government programs, has been acquired by Thomson Reuters, Serent announced on Friday.
“Pondera Solutions has built a unique platform and company over the last nine years – one that leverages innovative technologies to drive meaningful impact for its customers and their communities,” stated David Kennedy, Partner at Serent Capital. “It has been an honor to collaborate with Pondera as it has grown since partnering with Serent. Thomson Reuters is a great home for Pondera’s next chapter as a growth company.”
With the acquisition of Pondera Solutions, the company will enhance the offerings in the risk, fraud and compliance space. In addition, after the purchase closes, Thomson Reuters will expand its strategic approach to deliver insight through advanced analytics, artificial intelligence and human expertise.
Thomson Reuter will integrate Pondera’s solutions to help support business and contracted work. In Oct. 2019, Thomson Reuters secured a multiyear contract to give the Department of Justice (DoJ) personnel access to technology platforms designed for legal research and investigative purposes.
The company noted that it will also provide the CLEAR investigation tool to help DoJ components locate information on a subject and examine criminal events. More than 25 thousand users across the department will have access to the information service provider's Westlaw Edge, Litigation Analytics, Drafting Assistant and Practical Law products.
Stewart Lynn, Partner at Serent Capital, added, “We continue to have a strong belief and focus in the government technology market, especially during these times when governments collaborate, communicate, and work to support our communities in a digital world.”
Thomson Reuter announced the acquisition of Pondera on March 19, 2020. Steve Rubley, two-time Wash100 Award Recipient and president of the Government business for Thomson Reuters said, “Pondera will be a key component to the suite of tools available to government customers that use technology, data and human analysis to support their mission and benefit their communities.”
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive.