K1 Investment Management wants to merge two large social media compliance providers to offer access to more than 100 communication channels.
K1 is a private equity firm that’s been investing in software companies for more than two decades. Recently, the firm announced its acquisition of Actiance and its plan to join Actiance with Smarsh. The merger is pending regulatory approval from the Federal Trade Commission.
“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,” Neil Malik, managing partner at K1, said in a statement.
The merged company is expected to serve over 6,500 customers globally. Financial services firms have been ramping up their use of social media, but compliance issues have made adoption of these new channels slower than they might like.
The merger enables Smarsh and Actiance’s customers to capture, record, store and analyze various types of content such as e-mail, mobile messaging, instant messaging, social media, encrypted chat and voice communications.
“Both Smarsh and Actiance will be focused on delivering on our product and customer commitments. Services will be unaffected,” said Ken Anderson, Smarsh’s vice-president of marketing. Below is an Actiance screenshot of a typical dashboard monitoring a firm’s social channels and how they meet compliance requirements.
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