K1 Acquires Actiance, Will Merge It with Smarsh

K1 Investment Management has acquired Actiance, a provider of customer communications compliance, archiving, and analytics. Financial terms of the deal were not disclosed.

K1 will combine Actiance with Smarsh, which provides archiving solutions for compliance, e-discovery, and risk management. The combined company will serve more than 6,500 financial services firms as well as government agencies and organizations in other regulated industries.

"The financial services sector is undergoing rapid change. Legacy technologies are no longer sufficient to comply with SEC and FINRA standards, let alone MiFID II," said Neil Malik, managing partner at K1, in a statement. "This combination of capabilities from Actiance and Smarsh provides the industry with a means to get ahead and stay ahead of compliance trends, while introducing the latest communications technologies to increase efficiency and effectiveness in the modern enterprise."

Together, the combined company offers deployment options (cloud, dedicated, on-premises, and hybrid) and provides capture, compliance, archiving, and supervision support across electronic communications, including email, social media, mobile messaging, instant messaging/collaboration, encrypted chat, and voice communications. It will continue to support both companies' product lines.

"Together, Actiance and Smarsh uniquely enable global customers across industries to capture, record, store, and analyze over 100 content types," said Kailash Ambwani, CEO of Actiance, in a statement. "By integrating best-of-breed capture, archiving, and surveillance solutions with industry-leading expertise, Actiance and Smarsh are incredibly well-positioned to address the growing needs of global banks, financial services firms, and other regulated organizations. Together we will enhance our combined sales and distribution capabilities, offer our customers additional resources and services, and accelerate our product development."

"Our customers will be able to provide greater flexibility to their employees by not having to compromise on their choice of communications channels, deployment models, or compliance needs," said Stephen Marsh, founder, chairman, and CEO of Smarsh, in a statement. "Perhaps most importantly, organizations with legacy, on-premises capture and archiving solutions can make the overdue transition to upgraded and more modern solutions. All of this is now possible through a single provider."

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