Private equity firm Bluff Point Associates has acquired True North Networks (“True North”), adding the managed services, private cloud hosting and Managed Security Service Provider (“MSSP”) to its growing portfolio of technology companies serving the financial services industry. The transaction closed on March 12, 2021, and deal terms were not disclosed.
Founded in 2002, True North Networks provides SEC-compliant information technology solutions, network security and support to independent registered investment advisors (RIAs) and other financial services organizations across the country. Founder and President Steven Ryder is recognized as a leading expert on the cybersecurity issues facing financial advisors.
“Technological innovation continues to propel RIAs and the wealth management industry forward as the need for data privacy, network speed and cybersecurity intensifies,” said Bluff Point Associates Managing Director Kevin Fahey. “We believe there’s a considerable demand for secure and flexible cloud-based solutions providers that understand how to serve RIAs and the regulatory framework they operate in, and we’re committed to helping True North capitalize on this opportunity.”
“We’re excited about the next phase in True North’s evolution, which enhances our ability to offer RIAs the most critical and innovative enterprise-level IT solutions that are compliant with regulatory guidance, along with our world-class expertise and support,” said Steven Ryder, True North’s President. “We’re laser-focused on helping our clients use technology to drive their businesses forward securely in any environment and we’re proud that we can continue to grow alongside them.”
Ryder will continue to serve as President of True North, which will continue to be headquartered in Swanzey, New Hampshire. The company was previously employee-owned, and accordingly, every True North employee benefited from the acquisition.
This article originally appeared on PRWeb.
