OneTrust acquires Shared Assessments to standardize third-party risk management
OneTrust, the heavily VC-backed data privacy, governance, and compliance platform, has announced plans to acquire Shared Assessments, a membership-based organization that develops best practices for third-party risk management. Its products include privacy management software; data discovery and classification; ethics and compliance; risk management; and consent and preference management software. Founded in 2005, Shared Assessments has developed the standardized information gathering (SIG) questionnaire to help companies assess third-party risk in their supply chain, with notable members including Iron Mountain, Ellie Mae, SAP, and OneTrust itself. Under OneTrust’s auspices, Shared Assessments said that it intends to “remain a vendor-neutral industry organization,” but now with the backing of a billion-dollar company to help scale and become the “de facto international third-party risk standard,” according to a press release. OneTrust’s acquisition spree also mirrors activity elsewhere in the data privacy space, with the likes of LiveRamp acquiring Datafleets and HelpSystems buying Vera.