MENLO PARK, Calif., April 17, 2019 /PRNewswire/ -- Rubicon Technology Partners, a private equity firm specializing in mid-market enterprise software company investments, announced that it has completed the sale of Astute, Inc., a leading provider of consumer engagement and digital self-service software.
Astute is a provider of mission-critical software that enables over 2,000 brands, including some of the world's largest consumer-facing enterprises to engage and grow relationships with their end-consumers.
"We have continued to extend our leadership position in the consumer engagement software market by helping our clients create amazing consumer experiences that drive brand loyalty and revenue," said Ray Carey, Chief Executive Officer of Astute. "Rubicon's strategic and operational support has been key to capturing and growing our enterprise relationships and has strengthened the leadership position that Astute has achieved. It has been a pleasure being part of the Rubicon family and working with their team."
Over the last five years, Astute grew its recurring revenue by expanding its sales and marketing organization and its international presence to more effectively engage with, deliver critical consumer engagement needs for, and capture market share within global brands. Additionally, Astute acquired the leading consumer affairs software provider Wilke Global in 2018.
"It has been an honor to work with the whole Astute team. Astute is a great example of why we created Rubicon: to help talented management teams grow great companies," said John Hodge, Partner at Rubicon Technology Partners. "We wish the Astute team continued success on their journey."
Lazard acted as exclusive financial advisor to Astute and Perkins Coie LLP served as legal advisor to Astute. Terms of the transaction were not disclosed.
About Rubicon Technology Partners
Rubicon Technology Partners invests in enterprise software companies with proven products and talented management teams to help grow and scale their businesses. Rubicon enables companies to adapt to the changing requirements of their businesses as they grow and scale using a proven set of proprietary processes, best practices and a portfolio-wide engagement model called RTP Change Management. With offices in Menlo Park, CA and Stamford, CT, Rubicon has over $850 million in cumulative capital commitments. For more information, please visit http://www.rubicontp.com.
About Astute, Inc.
Astute builds AI-driven software for the future of consumer engagement. Astute helps the world's best brands enhance engagement with their consumers by contextually blending human and artificial intelligence. Astute's technology enables companies to provide more efficient customer service, protect their brands, and increase customer loyalty. Learn more at astutesolutions.com.
SOURCE Rubicon Technology Partners