Wilmington plc (LSE: WIL), a UK-based company specializing in governance, risk, and compliance (GRC) services, has completed the acquisition of Conversia, a leading Spanish legaltech company in regulatory compliance, together with Inveready, following approval from Foreign Direct Investment (FDI) authorities in Spain. NORGESTION and Lincoln acted as co-advisors to Conversia in the transaction
The transaction, valued at €121.6 million, was finalized yesterday, after being initially announced on August 12, 2025. This acquisition is part of Wilmington plc’s strategy to strengthen its positioning in the compliance sector through high-value technological solutions with international potential.
Founded in 1995 and listed on the London Stock Exchange the same year, Wilmington plc has evolved towards a digital model focused on providing information, data, and training solutions in the global GRC markets. This alignment with Conversia’s value proposition and strategy makes Wilmington plc the ideal partner for the growth of the Spanish legaltech company in this new phase, which will focus on accelerating the development of new digital solutions in the sector, expanding its client base, and growing both nationally and internationally. Conversia will retain its management team, led by CEO Alfonso Corral, as well as its operational structure, office network, and commercial brand.
According to Alfonso Corral, CEO of Conversia: “The key element in the company’s valuation has been our SaaS platform SIGNO, which we are turning into the benchmark platform for regulatory compliance for SMEs and freelancers. In 2025, we expect SIGNO to generate revenue of around €1 million, with our 2026 budget already exceeding €6 million, supported by new modules, additional functionalities, and greater adoption of the SaaS model by our clients. This will significantly increase the weight of software in our revenue mix and allow us to scale the business more efficiently.”
“Together with Wilmington, we will also be able to complement this organic growth with selective acquisitions that bring technology, products, or presence in new markets, consolidating Conversia as a leading RegTech platform in Europe,” Corral adds.
The transaction occurs in the context of increasing regulatory pressure on European SMEs, which face new requirements regarding data protection, internal reporting channels, information security, sustainability, and governance. In this scenario, Conversia’s model—based on proprietary technological solutions, expert advisory, and extensive territorial reach—has established itself as a key ally for companies to comply with regulations without losing focus on their business.
About Conversia
Founded in 2007, Conversia is the leading legaltech company in regulatory compliance services for SMEs, freelancers, property managers, public entities, and professionals across multiple sectors. With over 98,000 active clients, more than 500 employees, 33 own offices, a network of 7,500 collaborators, and projected revenue exceeding €40 million in 2025, Conversia provides specialized advisory services in areas such as personal data protection, criminal risk prevention, anti-money laundering, equality plans, and e-commerce, among others.
Conversia started as a regulatory compliance consultancy and over the past 20 years has progressively digitized its service delivery. In recent years, Conversia has been leading the digital transformation of the Spanish compliance market. Its flagship product, SIGNO, is the first regulatory compliance SaaS designed for SMEs and freelancers, allowing any business owner to comply with data protection laws in under 10 minutes autonomously, without legal knowledge. This tool is unique in Europe and aims to democratize regulatory compliance in Spain and across the continent.
More information at www.conversia.es
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