Soprano Design provides the full range of communication modes including, voice, chatbot, SMS, over-the-top messaging, rich communication services, and email
Potentia Capital to acquire 25% stake in Soprano Design. (Credit: aymane jdidi from Pixabay)
Australia-based media company Here, There & Everywhere (HT&E) has agreed to divest its stake in Soprano Design, a communications platform as a service (CPaaS) provider, to Potentia Capital in an all-cash deal worth A$66.3m ($44.4m).
As per the terms of the agreement, HT&E will sell its entire stake of nearly 25% to the Australian technology focused private equity firm.
HT&E said that following an extensive outreach process with multiple interested parties, the proposal from Potentia was determined to be the most attractive for the company’s shareholders.
According to the company, over the past 12 months, global CPaaS and technology markets have been challenged and that it sees the deal to be a positive outcome in the current market situation.
Furthermore, the all-cash deal enables it to focus on its position as one of the top providers of audio services in Australia, said HT&E.
Soprano Design is said to provide the full range of communication modes including, voice, chatbot, SMS, over-the-top messaging, rich communication services, and email.
Using its communications platform, enterprise and government organisations are enabled to benefit from connected and contextual communication, stated Soprano Design.
The Australian company’s software is said to offer more intelligent, smarter, and contextual communication, and hyper-customised social interactions.
Soprano Design founder and CEO Richard Favero said: “As an organisation that has maintained our leadership position in technology and innovation we are confident that Potentia will be an excellent partner to support our ongoing market and product expansion.
“Potentia has significant experience with enterprise software companies and I look forward to working with the Potentia team on accelerating growth and continuing to improve our offering to enterprise and government clients.”
Established in 1994, Soprano Design integrates IoT devices and enterprise applications with customer data to offer positive emotional experiences with customers along with providing reliable and contextual communication to machines.
The company claims to serve 4,500 customers globally by managing over 10 billion interactions or messages per year.
Potentia Capital investment director Amit Chand said: “We have tracked the CPaaS sector over a number of years and have been highly impressed by Richard and the broader Soprano management team. They have built an exceptional product that serves Tier 1 customers around the globe and has significant scale.”
The transaction is subject to the receipt of approval from the Australian Foreign Investment Review Board (FIRB).