Adds specialized software to its Governance, Risk, Compliance solution

SHARON, Mass., November 19, 2007 – MEGA International, a global provider of enterprise architecture (EA), business process analysis (BPA), and governance, risk, and compliance (GRC) solutions, today announced that it has acquired a company in France, Control Metrics, a leading developer of advanced internal control software.

The Control Metrics software translates regulatory requirements into internal control management methods to monitor and manage audit practices and ensure full compliance across an organization’s internal operations.

“Internal control is increasingly important as mandatory regulations and stakeholder pressures place greater demands on organizations’ governance, risk, and compliance management. Specialized software tools help resolve these challenges,” explained Lucio de Risi, President and CEO of MEGA International.

“The acquisition will enhance this vital component within MEGA International’s existing GRC solution, which was already cited by market research company Chartis Research in its report published earlier this year on leading operational risk management (ORM) vendors,” he said. (See Note to Editor)

He added that Control Metrics has distinguished itself as a high performer in a specialized market. Both companies use the same Web-based technology and have a similar customer base, making the acquisition an ideal fit.

The Control Metrics software, IC-Quest, was developed for two main markets: manufacturing and distribution, and banking and insurance.

The MEGA GRC Suite enables enterprises to design control systems, identify, evaluate, and map risks, and meet multiple regulatory requirements. It provides efficient internal control management with quantitative analysis capabilities, while reducing the cost of compliance and eliminating redundant controls.

Pierrick Pétain, president of Control Metrics, said, “We are joining a company that is setting the pace in the industry and has the best prospects for the future. MEGA International is well-resourced and offers a stable framework for our highly specialized application.”

Pétain will now direct the GRC professional services department of MEGA International, bringing to the company more than a decade of expertise in risk, internal controls, and compliance management.

Founded in 2005, Control Metrics is a specialized, profitable, and fast- growing French company that serves major corporations, mainly in the financial services industry. It has won important awards for its innovative enterprise and recognition for advanced technology.

The process of acquisition was concluded on November 1, 2007. Control Metric’s products will continue to be fully supported; in time they will be absorbed into the MEGA GRC Suite to create a single, modular suite of best-of-breed products and services for comprehensive governance, risk, and compliance management.

 

Note to Editors

The Chartis Research Operational Risk Management (ORM) Report

The 2007 Chartis Research report forecasts that: “the worldwide operational risk management market will grow at a compound annual growth rate of 9 per cent to reach $1.55bn by 2011 (financial services sector only).”

The report covers the main market, with information about regulatory requirements and competitive suppliers in the market. Forecasts on market size, vendor rankings and best practices are examined. The report also states that “Chartis expects ORM systems to become an integral part of every financial institution’s enterprise risk and performance management system and to reach maturity in 2012”.

For further information on the full report, see www.chartis-research.com