I had the honor of moderating a panel on a recent Market Spotlight webcast hosted by the World Financial Symposiums. We co-sponsor these sessions periodically to highlight various M&A topics or technology sectors, in this case Governance, Risk and Compliance, commonly known as GRC. Our guest panelists were Mike Bell, Founder and President of R-Squared, and Michael Rasmussen, Chief GRC Pundit for GRC 20/20 Research. Following some introductory valuation data presented by Alina Soltys, a Corum Sr. Research Analyst, we engaged in a lively exchange of ideas from our panelists on the drivers and trends in the industry that are leading to record levels of consolidation through M&A activity. Of special interest were comments regarding the growing importance of global transparency and the evolving trend toward enterprise solutions, which now only command 20% of the total GRC solution expenditures, while 80% is spent on addressing specific issue or departmental needs. You can hear the entire webcast and see the slide deck on the WFS webpage.