Schwab to Acquire Compliance Software Provider

October 31, 2011 ( - The Charles Schwab Corporation announced it has entered into an agreement to acquire Compliance11, Inc., a provider of cloud-based, regulatory compliance software. 

Based in Chicago and founded in 2005, Compliance11, Inc. is a provider of cloud-based compliance automation software for public companies, brokerage firms, investment advisers, hedge funds, private equity firms, and pension funds. Its customizable platform provides companies with a series of compliance tools to assist in managing their disclosure, tracking, surveillance, and reporting needs, as well as more efficiently manage employee compliance with investment and trading activity regulations.

The acquisition is expected to close in the fourth quarter of 2011, subject to customary closing conditions. Financial terms of the transaction are not being disclosed.