2025年上半年治理、风险与合规市场更新

1H 2025 Executive Summary:GRC Market Update Houlihan Lokey Governance, Risk, and Compliance Advisory Update GRC Market Update Houlihan Lokey has remained highly active in the governance, risk, and compliance (GRC)sector in the past 12 months with multiple closed/announced M&A advisory engagementsas well as platform-building strategic moves: Technology InnovationDriving ContinuedMarket Growth M&A and Funding IsSlow but Active Positive MarketOutlook DespiteMacro Uncertainty Strong Investor andStrategic AcquirerAppetite ●Advised GRMS on its sale to Achilles.The deal strengthens Achilles’ position as a globalleader in supply chain risk management and enables it to offer unparalleled insights andtools to enhance supplier relationships (press release; see page 9). ●The GRC ecosystem is undergoing rapid innovation across the value chain, impactingorganizations of all sizes. Advances inGenAI, data and analytics, and the risingcomplexity of enterprise risksare fueling the next wave of GRC transformation, ascompanies accelerate their digitization and cybersecurity initiatives. ●Advised Brycer on its strategic investment from TA Associates.The partnership aimsto accelerate Brycer’s growth as the company continues its mission of improving publicsafety through proactive compliance services and technology. TA’s investment will enableBrycer to further enhance its technology platform, increase staff, execute strategic M&A,and expand its service offerings. (press release; see page 10). ●Amid rising regulatory scrutiny, cybersecurity threats, and evolving ESG and data privacymandates,the GRC landscape is under growing pressure. These dynamics aredrivingdemand for integrated, data-driven solutionsthat enhance visibility, streamlineworkflows, and strengthen both compliance and risk management. ●Advised PROtect and Spire Capital on their sale to Sterling Investment Partners.The partnership will enable PROtect to focus on its next phase of growth, deliveringlasting value to customers, employees, and stakeholders (press release). ●The sector remains active, but capital raising and M&A activity have moderated, with dealvolumes declining YoY through Q2 2025—continuing the cautious trend seen in 2024. Thatsaid, with regulatory complexity and cyber risk intensifying,we anticipate a rebound instrategic activity in the second half of 2025as buyers and investors refocus on solutionsthat deliver operational resilience and compliance efficiency. ●Hired Andrew Athertonto lead Houlihan Lokey’s global governance, risk, andcompliance coverage efforts(press release). ●Houlihan Lokey’s public GRC Index has proven resilient, on par with the S&P 500 YTD.(1) Introduction The Governance, Risk, and Compliance (GRC) market is at a pivotal juncture, driven by escalating regulatory complexities,an evolving risk landscape, and the growing demand for AI-powered, integrated, data-driven solutions. As organizationsacross sectors navigate an increasingly intricate landscape of compliance requirements and risk management challenges,GRC solutions have emerged as critical tools to streamline processes, enhance transparency, and foster resilience. We are pleased to issueour Governance, Risk,and Compliance MarketUpdate for 1H 2025. GRC has moved away from being a static and reactive set of systems and frameworks. Today’s proactive, data-driven GRCindustry empowers organizations of all sizes to automate compliance, anticipate risks, and integrate and build resilience.When leveraged correctly, GRC solutions empower businesses to take calculated risks confidently, balancing potentialrewards with carefully managed vulnerabilities, all driving continued innovation and economic growth. Demand for andinterest in GRC technology and data assets remain strong as tailwinds continue to benefit the sector and encourage theadoption of technology solutions. With this report, we redefine our coverage and provide a comprehensive analysis of the GRC market, exploring key trendsand themes shaping its evolution. Through market maps, we delineate our view of the key subsectors within the GRCecosystem, offering insights into the diverse solutions addressing regulatory compliance, risk assessment, and governanceframeworks. Additionally, this report examines recent M&A and capital markets activity, highlighting the strategic movesand investments fueling innovation and consolidation across sub-sectors. Drawing on authoritative third-party reports, wecontextualize market dynamics, growth projections, and emerging opportunities. As our firm continues to execute transactions in this space, we invite you to contact us to discuss past transactions, futureopportunities, or the ecosystem more broadly. We hope that this report serves as a vital resource for stakeholders seekingto understand the transformative potential of GRC and its role in shaping the future of organizational resilience andcompliance. Best Regards, Andrew AthertonManaging DirectorGRC Sector LeadAndrew.