Accel-KKR to Sell Majority Interest in Smart Communications to Cinven

MENLO PARK, Calif. and LONDON, Aug. 1, 2025 /PRNewswire/ -- Accel-KKR, a global software and technology-focused private equity firm, today announced that it has signed a definitive agreement to sell a majority equity interest in Smart Communications ("Smart"), the leading provider for cloud-based enterprise customer communications, to Cinven. Accel-KKR will retain a minority equity ownership position in Smart going forward. Other terms of the transaction were not disclosed.

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.   

Accel-KKR first backed Smart Communications in 2016, following its spinoff from Thunderhead and launch as an independent company. Over the course of its nine-year partnership with Accel-KKR, Smart built a strong, seasoned leadership team and achieved more than 5x revenue growth, firmly establishing itself as a leader in the cloud CCM (Customer Communications Management) and IXM (Interaction Experience Management) markets. Over the period, Smart cemented its leadership position in North America and completed three acquisitions that expanded its business into new geographies, including Australia, DACH and the Nordics.

Tom Barnds, Co-Managing Partner at Accel-KKR, said, "We have been delighted to work with the outstanding Smart Communications management team as they established it as an independent company and brought innovation to the global CCM and IXM markets through accelerated investment in R&D, the launch of new products, and by entering into new geographic markets. While we will sell a majority interest in Smart to Cinven, we look forward to continuing to participate in the company's growth through an ongoing minority equity ownership position."

For Accel-KKR, the sale of its majority interest in Smart represents the firm's fourth $1 billion-plus realization in Europe, building upon its successful exits from Kerridge Commercial Systems, JAGGAER, and Episerver.

"We strongly believe Cinven will be a great partner for the Smart Communications management team going forward given their track records with previous Accel-KKR investments JAGGAER and One.com," said Maurice Hernandez, Managing Director at Accel-KKR who heads the firm's London office.

Accel-KKR has completed nearly 90 investments and acquisitions of software companies in Europe since its inception, making the firm one of the most active private equity software investors in Europe. Other leading Accel-KKR software companies in Europe include NAVTOR, Reapit, Basware, Kantata and Symfonia.

"From day one, Accel-KKR has been an exceptional partner – supportive, strategic, and deeply invested in our success. Together we've built an industry-defining platform, enduring relationships with customers and partners, and an extraordinarily talented team of employees. With these achievements as our foundation, I'm thrilled that Accel-KKR will continue to be a part of our next chapter with Cinven," said Leigh Segall, CEO of Smart Communications.

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

About Smart Communications
Smart Communications is the trusted choice for regulated enterprises looking to modernize complex processes and connect with customers in the moments that matter most. Its Conversation Cloud™ platform powers frictionless, compliant, digital-first experiences through omnichannel communications, intelligent data capture, and secure digital archival. More than 650 enterprises worldwide - including Zurich Insurance, Priority Health, The Pacific Financial Group, and The Bancorp - rely on Smart Communications to reduce compliance risk, boost operational efficiency, lower costs, and fast-track digital transformation that fuels business growth and elevates the customer experience. With more than 30 pre-built connectors, Smart Communications' cloud-native platform integrates effortlessly with the world's most trusted enterprise systems including Salesforce, Guidewire, DuckCreek, OneSpan, and Pega, enabling more than 60 billion mission-critical customer conversations globally, and driving faster time to value. 

About Accel-KKR
Accel-KKR is a technology-focused investment firm with $23 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its partner companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, secondaries, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR's headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. For more, visit accel-kkr.com.

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SOURCE Accel-KKR