International private equity firm, Cinven, today announces that it has agreed to acquire Smart Communications (Smart Communications or ‘the Company’), a leading global cloud-native provider of Customer Communication Management (‘CCM’) and Inbound Conversation Management (‘ICM’) software solutions. Financial terms of the transaction were not disclosed.

Smart Communications is an industry-leading, award-winning technology provider trusted by more than 650 enterprise organisations worldwide – including many of the world’s top financial services, insurance, and healthcare brands. Its Conversation Cloud™ platform is purpose-built for the needs of complex, highly regulated industries, delivering personalised, compliant, and digital-first customer conversations at scale across the entire customer lifecycle. Today, the company employs more than 400 people and operates globally with offices in Europe, North America, Australia, and Singapore.

The investment by the Cinven funds draws on Cinven’s deep TMT expertise and track record and reflects the strong conviction in Smart Communications’ prospects for sustained growth. Cinven’s TMT sector team views Smart Communications as a compelling investment opportunity, underpinned by a number of attractive characteristics including:

• Large addressable and structurally growing market: Smart Communications benefits from a leading position in the attractive CCM and ICM markets, with growth driven by long-term tailwinds such as the digitalisation of customer interactions, a shift toward more interactive and personalised customer experiences across various channels, and the need to replace legacy systems;
• Distinctive global platform: Smart Communications deploys a modern cloud-native SaaS offering to successfully deliver at scale for blue chip enterprise customers operating in complex and regulated environments;
• Impressive financial track record: Smart Communications has delivered a strong track record of organic growth supported by recurring revenues and best-in-class retention rates; and
• Attractive opportunity for organic and inorganic growth: Smart Communications has a clear opportunity to grow and expand into emerging sector verticals, geographies and adjacent products, both organically and through acquisitions.

Thomas Railhac, Partner and Head of Cinven’s TMT sector team, said:

“We are delighted to announce our investment in Smart Communications, a software company we have long admired for its leadership in cloud-based customer communication and inbound conversation management. The company’s differentiated, cloud-native SaaS technology and proven track record of serving enterprise customers in regulated and complex sectors such as financial services, insurance, and healthcare make it a stand-out in the industry. Smart Communications’ commitment to innovation, strong client relationships, and impressive growth perfectly align with Cinven’s strategic vision. We look forward to partnering with Leigh and her team and contributing our global network and extensive experience of supporting industry leading software businesses.”

Adam Prindis, Partner at Cinven added:

“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. 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 partner with Leigh and her team to accelerate the expansion into new geographies and verticals, building on an exceptionally strong foundation.”

Leigh Segall, CEO of Smart Communications stated:

“Cinven’s conviction in our vision and recognition of our platform, market opportunity, and customer momentum reinforce the strength of all that we have built thus far. As we couple this foundation with Cinven’s 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.”

The transaction is subject to regulatory approvals and other customary closing conditions.