Smarsh Acquires Cognia Ahead of EU's MiFID Compliance Deadline

Data and messaging archiving tools are becoming a mainstay of risk management processes as companies look toward satisfying increasing global and local regulations. But because of the rate of change in both technology and regulations, many of these platforms are looking to expand to keep pace.

For instance, data archiving platform Smarsh last week announced it would be acquiring London-based cloud voice archival software Cognia. Cognia's core platform, which Smarsh will adopt into its own system, allows users to store, analyze, monitor and produce audio data collected through Smarsh's platform.

Ken Anderson, Smarsh's vice president of marketing, told Legaltech News that the Cognia acquisition can help Smarsh differentiate itself from other archival platforms hoping to capitalize on European companies' need to comply with recordkeeping regulations. Cognia's technology specifically meets regulatory standards set through the EU's Markets in Financial Instruments Directive (MiFID II), set to take effect in January.