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Norkom Technologies, a provider of financial crime and compliance software to the global financial services industry, has bought rival US firm Digital Harbor.

The deal expands Norkom’s client base, now includes four of the world’s top seven financial services institutions.

Digital Harbor was acquired for £18.3 million ($36.5 million) in cash and will now trade as part of Norkom.

Norkom’s chief executive, Paul Kerley, said: “Digital Harbor has particular expertise in user interface design and enterprise wide case management, which complements our own skills in enterprise wide detection, profiling, investigation and process automation. This will allow us to fast track our delivery of best in class solutions and achieve our objective of becoming the industry’s gold standard.”

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