Credit Suisse Asset Management’s NEXT Investors announced today it has exited its investment in Actiance, a leader in communications compliance, archiving, and analytics, through a sale to K1 Investment Management, a California based private equity firm focused on investing in enterprise software companies. Actiance will combine with Smarsh, which provides comprehensive archiving solutions for compliance, e-discovery, and risk management, creating the clear, global market leader in compliance and enterprise information archiving. The combined company will serve more than 6,500 financial services firms ─ including the top 15 global banks and regional, mid-size banks and broker-dealers ─ as well as government agencies and organizations in other regulated industries.
“As the use of digital communications continues to grow across the financial services industry, so does the need to effectively manage, archive, and monitor those communications in an increasingly complex regulatory environment. We are pleased to have partnered with Actiance to support the company’s growth, helping it become a leader in this vertical, and we look forward to K1 taking Actiance to the next level,” said Alan Freudenstein, Co-Head and Portfolio Manager of Credit Suisse Asset Management’s NEXT Investors.
“As part of a broader financial institution, the NEXT Investors team is well positioned to identify transformational trends in the financial services industry and to support our portfolio companies like Actiance by helping to build out their presence within the financial services vertical in addition to providing customer introductions,” said Greg Grimaldi, Co-Head and Portfolio Manager of Credit Suisse Asset Management’s NEXT Investors.
Actiance provides compliance across the broadest set of communications and social channels with insights on what’s being captured. Actiance customers manage over 500 million daily conversations across 80 channels and growing.