NEW YORK, Jan. 12, 2016 /PRNewswire/ -- Bloomberg announced today that it has acquired the intellectual property, patents, and engineering assets of Netbox Blue, a global provider of social media risk management and compliance solutions. Netbox Blue's social media monitoring and governance technology will enhance Bloomberg's enterprise compliance platform (called Bloomberg Vault). This will provide clients with next-generation price-competitive communications surveillance functionality and analytics to meet increasingly stringent regulatory guidelines, prevent market abuse, and deepen visibility into the commercial use of social media.
More than a thousand Bloomberg Vault clients, the majority of which are financial services firms, will immediately gain access to technology that enables them to permit the use of these social media products by their employees while meeting communications surveillance and archiving requirements. In addition, Bloomberg Vault will be able to offer enhanced data capture and behavioral analytics functionality to help business managers better understand how employees use social media and online collaboration communications channels to gather insights, share information and interact with customers.
"The majority of communications compliance solutions and in-house surveillance programs can flag activities, but lack the ability to look across multiple social and digital interactions dynamically to detect behavioral patterns," said Harald Collet, global head of Bloomberg Vault. "Through Bloomberg's acquisition of Netbox Blue's technology and domain expertise, our customers gain immediate visibility into dynamic interactions over social channels - not only to mitigate risks and gain compliance controls, but to derive a more complete and valuable picture of how their business uses these applications."
Over the course of the past year, Bloomberg Vault has introduced significant new functionality designed to help its customers capture and analyze data generated and stored across their enterprises. The acquisition of Netbox Blue's technology cements Bloomberg's commitment to delivering dynamic communications surveillance and compliance tools, while also developing advanced behavioral analytics that provide visibility into the use and risks of using social media across the enterprise.
"We've reached an inflection point in terms of the adoption of social media and collaboration tools by financial services firms to interact with their customers, gather and share insights and promote their brand," said Larry Tabb, founder of Tabb Group. "At the same time, as regulatory pressures persist and market abuse prevention increasingly becomes a front-office concern, there is growing demand for surveillance and analytical tools that can help firms proactively manage risk as well as understand the real benefit of using these channels."
Existing Netbox Blue clients will remain clients of Netbox Blue Pty Limited (now known as CyberHound Pty Ltd), the shares of which Bloomberg did not acquire.
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About Bloomberg Vault
Bloomberg Vault is a secure managed service for information governance, surveillance, data analytics and trade reconstruction across the enterprise. It leverages the scalability and reliability of Bloomberg's global infrastructure, which distributes up to 360 million daily messages and manages more than 90 billion archived records on behalf of Bloomberg Vault subscribers. Bloomberg Vault also offers compliant record-keeping functionality to help more than a thousand firms manage and safely archive a broad range of enterprise communications and collaboration data to meet mounting legal and regulatory requirements on a global scale. Bloomberg uses Vault's technology to capture and safely encrypt its own email and instant message data. To learn more about Bloomberg Vault, please visit www.bloomberg.com/vault.