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The increased need for cybersecurity has prompted Smarsh, a compliance and regtech firm backed by K1 Investment Management, to acquire Entreda.
Financial terms weren’t announced. Entreda, of Santa Clara, Calif., provides cybersecurity risk and compliance-management software and services for wealth managers. Crestlight Ventures, the largest outside investor in Entreda, exited its holding with the sale.
Entreda will operate as a stand-alone subsidiary of Smarsh and continue to be led by CEO and co-founder Sid Yenamandra. No job cuts are expected. “Our emphasis will be on growing the Entreda business as quickly as possible,” said Brian Cramer, Smarsh’s CEO.
Regulators, including Finra and the Securities and Exchange Commission, have increased their expectations of what wealth firms should do to manage…
