Asia-based diligence provider Poseidon bought by Exiger

Established in Tokyo in 2007 but now headquartered in Hong Kong, Poseidon specializes in background due diligence services, regulatory risk analysis, compliance screening, litigation support and strategic consulting. The firm claims to have completed more than 1,000 projects in over 25 jurisdictions.

Exiger said the acquisition of Poseidon deepens its coverage of Asia, enabling the firm to more effectively meet the needs of its banking, private equity, hedge fund, corporate, foundation and endowment clients.

"Over the past 10 years, Velisarios Kattoulas and his team at Poseidon have developed a premier due diligence and business intelligence specialist in Asia," Michael Beber, president and CEO of Exiger, said in a statement. "By pairing Poseidon's regional expertise with our global platform and technology, we are now able to offer both the breadth and depth necessary for clients operating throughout the world."

Exiger was launched in 2013, initially to lead the court-appointed monitoring of HSBC, which involves evaluating the effectiveness of internal compliance controls across approximately 6,000 offices in nearly 70 countries. It subsequently took on other clients, offering guidance on preventing compliance breaches, responding to risk, remediating major issues and monitoring ongoing business activities.

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