Accel-KKR Announces Sale of Majority Interest in Smart Communications
Accel-KKR, a prominent private equity firm focused on software and technology, has announced a strategic move to sell the majority interest in Smart Communications to Cinven, marking a significant shift in the company's ownership landscape. Accel-KKR will still maintain a small equity position, illustrating its ongoing commitment to the growth and success of Smart Communications.
Transformational Cloud-Based Solutions
Smart Communications is recognized for its innovative Conversation Cloud™ platform, which is designed specifically for regulated industries. This platform allows businesses to streamline their customer communications while ensuring compliance. Over 650 organizations, including notable names such as Zurich Insurance and The Bancorp, depend on Smart to enhance operational efficiency and provide secure, seamless communication experiences.
Accel-KKR's Investment Journey with Smart Communications
The partnership between Accel-KKR and Smart Communications began in 2016 after Smart spinned off from Thunderhead. Since then, under Accel-KKR's guidance, Smart Communications has experienced substantial growth, achieving over 5x revenue increase. The firm has also successfully expanded into new markets including regions outside North America.
Statements from Leadership
Tom Barnds, Co-Managing Partner at Accel-KKR, expressed pride in the collaboration with Smart's leadership team. He highlighted their innovative contributions to the cloud-based Customer Communications Management (CCM) and Interaction Experience Management (IXM) sectors. The transition to Cinven, he believes, will further stimulate Smart's growth trajectory.
Maurice Hernandez, Managing Director at Accel-KKR, echoed similar sentiments, predicting a fruitful partnership between Cinven and Smart Communications, emphasizing the importance of this alliance for future successes.
Accel-KKR's Position in the Software Investment Arena
With nearly 90 investments across Europe, Accel-KKR stands out as one of the most active private equity firms in the software sector. Their ongoing commitment is evident in other successful investments, which reinforces their credibility as a formidable investor in tech-focused growth.
Comments from Smart Communications’ CEO
Leigh Segall, the CEO of Smart Communications, reflected positively on the partnership with Accel-KKR, noting that their support has been instrumental in building an industry-leading platform and nurturing talent within the organization. He looks forward to continuing this momentum under Cinven's stewardship.
Looking Ahead
The agreement is pending standard regulatory approvals, and the management teams from both companies are eager to transition smoothly to this new chapter. The deal signifies an exciting time for Smart Communications as they explore opportunities aided by Cinven's extensive resources and expertise.
About Smart Communications
Smart Communications is dedicated to facilitating modernized processes for regulated enterprises. Their platform enhances customer engagement through intelligent data capture and seamless digital interactions, enabling more than 60 billion critical conversations annually.
About Accel-KKR
Accel-KKR is a technology investment firm with significant resources totaling $23 billion in capital commitments. They prioritize building strong relationships with their partner companies to foster growth and innovation in the technology sector.
Frequently Asked Questions
What is the main focus of Smart Communications?
Smart Communications specializes in cloud-based customer communications for regulated enterprises, providing solutions that ensure compliance and enhance operational efficiency.
Who are the primary stakeholders in the recent transaction?
Accel-KKR is selling a majority interest to Cinven while retaining a minority ownership stake in Smart Communications.
What has been the growth trend of Smart Communications?
Smart Communications has seen over 5x revenue growth since its partnership with Accel-KKR began in 2016.
What does the future hold for Smart Communications after the acquisition?
With Cinven's backing, Smart Communications expects to accelerate its growth and expand its innovative platform further into new markets.
How has Accel-KKR performed in software investments historically?
Accel-KKR has been a highly active investor with nearly 90 investments in European software firms, showcasing their substantial influence in the software investment sector.
