Cinven has agreed to acquire a majority stake in Smart Communications, a global leader in cloud-based enterprise customer communications, from Accel-KKR.  

The deal marks Accel-KKR’s fourth $1bn+ realisation in Europe and reflects continued investor appetite for enterprise SaaS platforms with regulatory resilience and recurring revenue models.

Accel-KKR, which first backed Smart Communications in 2016 following its carve-out from Thunderhead, will retain a minority stake in the business. During their nine-year partnership, Smart achieved over 5x revenue growth and completed three international acquisitions, expanding its presence across North America, Australia, the DACH region, and the Nordics.

“We have been delighted to work with the outstanding Smart Communications management team… and look forward to continuing to participate in the company’s growth,” said Tom Barnds, Co-Managing Partner at Accel-KKR.

Smart Communications’ flagship platform, Conversation Cloud™, is designed for regulated enterprises across industries such as insurance, healthcare, and financial services. The platform supports over 60 billion customer communications globally and integrates with major systems including Salesforce, Guidewire, and Pega.

Leigh Segall, CEO of Smart Communications, added, “From day one, Accel-KKR has been an exceptional partner… I’m thrilled that Accel-KKR will continue to be a part of our next chapter with Cinven.”

Accel-KKR has now completed nearly 90 software deals in Europe, with recent exits including JAGGAER, Kerridge Commercial Systems, and Episerver. The transaction remains subject to customary regulatory approvals and closing conditions.

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