Smart Communications announced that international private equity firm Cinven has acquired a majority stake in the company. This strategic investment reinforces Smart’s position as the world’s leading cloud-native provider of customer communications and interactive experience management technology. As part of the agreement, private equity firm Accel-KKR, which first backed Smart Communications in 2016, will retain a minority equity ownership position in the company going forward.
Smart Communications’ Conversation Cloud™ platform is purpose-built for regulated enterprises – empowering them to deliver personalized, compliant conversations across every channel. More than 650 leading organizations worldwide, including Zurich Insurance, Priority Health, The Pacific Financial Group, and The Bancorp, rely on Smart Communications to simplify and automate complex processes, reduce risk, improve operational efficiency, and drive secure, frictionless digital-first experiences.
“Cinven’s conviction in our vision and recognition of our platform, market opportunity and customer momentum reinforce the strength of what we’ve built,” said Leigh Segall, Chief Executive Officer, Smart Communications. “With their deep expertise in technology and global growth, we are poised to accelerate our global expansion, advance our product innovation, and unlock even more value for clients in regulated industries. I'm thrilled to welcome Cinven as our new strategic partner as we mark an exciting new chapter for Smart Communications.”
Today’s announcement follows a series of strategic investments by Smart Communications in the rapidly evolving customer conversation market. In April, Smart Communications announced the acquisition of cloud archiving provider Joisto and integrated the company’s groundbreaking technology in its new SmartHUB™ digital archiving solution, which was unveiled in June.
Smart’s technological leadership and product innovation have also been consistently recognized by renowned analysts such as IDC, Aspire and Aragon Research.
“Smart Communications’ differentiated, cloud-native SaaS technology and strong track record of serving enterprise customers in regulated sectors such as financial services, insurance, and healthcare make it a true stand-out in the industry,” said Thomas Railhac, partner and Head of Cinven’s TMT sector team. “The company’s relentless focus on innovation, deep customer relationships, and impressive growth perfectly align perfectly with Cinven’s strategic vision. We’re excited to partner with the team and leverage our global footprint and operational expertise to help scale the business and unlock new growth opportunities.”
“Smart Communications exemplifies the qualities we seek in a transformative technology investment – a truly global addressable market, an innovative product suite and outstanding customer feedback,” added Adam Prindis, partner, Cinven. “The company’s ability to drive tangible value for customers, while maintaining impressive operational resilience, translates into best-in-class financial metrics. We are excited to collaborate, accelerating their expansion into new geographies and verticals, and building on a truly strong foundation.”
Financial terms of the transaction were not disclosed. The transaction is subject to regulatory approvals and other customary closing conditions.
