Communications compliance and analytics company Actiance has made its exit this week. The California-based company has been acquired by K1 Investment Management, an investment firm focused on acquisition-based growth opportunities, reports Julie Muhn at Finovate (Banking Technology’s sister company).
K1 will join Actiance with its rival, Smarsh, which specialises on archiving compliance. The combined company will reach more than 6,500 financial services companies, including the top 15 global banks.
Neil Malik, managing partner at K1, says: “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.”
The service can be deployed in the cloud, dedicated, on-premise, and hybrid and will offer capture, compliance, archiving, and supervision support across a range of communication channels, including email, social media, mobile messaging, instant messaging/collaboration, encrypted chat and voice communications.
K1 plans to enhance the service by investing in product capabilities, increasing flexibility in deployment options, accelerating expansion in Europe and developing a joint channel partner program.
Last month, Actiance launched a safe landing programme for continuous compliance, and in August, it introduced a compliance and archiving solution for WeChat and WhatsApp. Before today’s acquisition, the company had raised $43.6 million.