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Smart Communications, a significant player in the technology sector, recently announced that Cinven, an international private equity firm, has acquired the majority stake in the company. This move elevates Smart’s standing as a premier provider of cloud-native customer communication and interactive experience management technologies, strengthening its global influence.
This strategic partnership allows Accel-KKR, which invested in Smart in 2016, to maintain a minority equity stake as the company ventures forward. The Conversation Cloud™ platform by Smart Communications is designed specifically for regulated enterprises. It empowers these organizations to deliver personalized and compliant interactions across various channels.
Smart Communications is trusted by over 650 leading organizations globally, including notable names like Zurich Insurance, Priority Health, The Pacific Financial Group, and The Bancorp. These clients depend on Smart to streamline operations, minimizing risks and enhancing secure, seamless digital-first user experiences.
Leigh Segall, CEO of Smart Communications, stated that Cinven's commitment aligns with the company’s vision and platform strengths, setting the stage for accelerated global expansion and creative advancement. With Cinven's keen expertise in technology and markets, Smart Communications welcomes this partnership as it embarks on an exciting new phase of growth.
The announcement aligns with recent strategic movements by Smart. Earlier in the year, they acquired cloud archiving provider Joisto. They integrated Joisto’s innovative technologies into its newly unveiled SmartHUB™ digital archiving solution, marking another milestone in Smart's journey of technological leadership.
Industry analysts, including IDC, Aspire, and Aragon Research, have consistently recognized Smart Communications for its innovation and leadership in the sector. This acknowledgment positions the company prominently within regulated sectors like financial services, insurance, and healthcare.
Thomas Railhac, a partner and Head of Cinven’s Technology, Media, and Telecommunications sector, remarked that Smart's remarkable cloud-native SaaS technology and established customer relationships distinctively position them within the industry. The collaborative potential with Cinven is foreseen to propel Smart's growth trajectory through expanded global footprints.
The sentiments were echoed by Adam Prindis, another prominent partner at Cinven, who added that Smart Communications aligns with the strategic technology investments Cinven seeks. As Smart continues to enhance its portfolio and drive value for clients, this partnership is expected to build robust foundations as they venture into new geographical territories and industry verticals.
