RIA compliance software company RIA in a Box has acquired Itegria, a Northbrook. Ill., cybersecurity firm that caters to wealth managers.
Specific financial terms of the deal were not disclosed.
The buyout adds to RIA in a Box’s software suite Itegria’s flagship product: AdvisorCloud, a virtual desktop infrastructure that allows employees to access their firms’ networks and data remotely. Itegria additionally offers AdvisorCare, a full-service outsourced IT option for RIAs that includes network monitoring, monthly reports and tech audits, and AdvisorGuard, a monthly cybersecurity and risk identification service.
RIA in a Box, based in Cleveland, said Itegria clients won’t be immediately affected by the acquisition. The firm said it plans to release a software bundle that combines Itegria and RIA in a Box’s products ‘in the coming few months.’
RIA in a Box’s leading product is MyRIACompliance, a subscription-based software package that includes compliance logs, webinars, document templates, audit prep tools and more.
‘We are joining forces to deliver an all-encompassing suite of solutions to support the evolving needs of RIAs,’ RIA in a Box said in a statement. ‘Together, we will enhance existing solutions for compliance and cybersecurity, and increase operational excellence.’
All Itegria employees will join RIA in a Box, including co-founders Richard Mabbun and Julian Makas.
RIA in a Box is backed by private equity firm Aquiline Capital Partners.