Chesterfield, Mo.-headquartered Swizznet, a cloud-based software provider specializing in serving accounting firms, announced on Friday that it is purchasing outsourced RIA cloud service-provider RightSize Solutions, based in Lenexa, Kansas.
Swizznet said that it hopes the transaction will help it expand its cybersecurity, compliance and managed technology offerings to the greater financial services industry, according to a company press release.
“By far, RightSize has the most secure ITaaS solution set in the financial services sector, with 18 years of experience delivering SEC-compliant cloud services to hundreds of firms across the US,” said Bob Hollander, President and CEO of Swizznet, in released comments.“Swizznet leads in delivering fully-supported hosted accounting applications and the acquisition of RightSize further positions us for the growing security, compliance and remote-worker needs of our accounting and business clients.”
Swizznet is part of Westport, Conn.-based private equity firm Bluff Point Associates’ portfolio of companies. Rightsize, on the other hand, is an RIA IT management specialist.
No additional details of the transaction were given in the companies’ announcement.