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Smarsh snaps up Entreda
Posted on Thursday, 21 May 2020 12:26
Smarsh has acquired US-based cybersecurity software company Entreda for an undisclosed sum.
Following the deal, the target will operate under its own name as a wholly-owned subsidiary of the buyer’s.
The acquisition will allow Smarsh to provide cybersecurity risk and compliance services to registered investment advisors (RIAs), brokers and banks worldwide.
California-headquartered Entreda offers cybersecurity software, systems and training programmes to customers in the wealth management industry.
The group has nearly 300 clients, including some of the world’s leading RIAs and broker-dealers, such as Advisor Group, which houses over 11,000 independent advisors.
Co-founded by Sid Yenamandra, Entreda helps regulated industries to supervise and protect customer information.
Its products include anti-virus and device encryption applications, as well as data leakage monitoring systems which can be used on any universal serial bus and cloud drive.
Entreda also provides adaptive phishing campaigns and personalised security awareness training for clients.
Brian Cramer, chief executive of the buyer, said: “With the acquisition, Smarsh can now offer our customers cutting-edge device, network and user level cybersecurity risk and compliance management capabilities.”
As a result, the company will be able to serve businesses looking to move to long-term remote models, such as Microsoft Teams, Slack and Zoom.
Jason Lish, chief security, privacy and data officer of Advisor Group, noted: “This combination makes it easier for risk professionals to protect and supervise digital communications as well as advisor systems as the industry deals with escalating cyber threats.”
Located in Oregon, Smarsh provides electronic communications risk services across email, social media, instant messaging and mobile devices, among others.
The company operates nine offices worldwide, including sites in New York, London and Bangalore.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 1,562 deals targeting software publishers announced globally so far in 2020.
Insight Holdings Group bought Cyprus-based Veeam Software for USD 5.00 billion in the most valuable of these.
© Zephus Ltd