Cinven Acquires UK Tech Firm Smart at $1.8 Billion Valuation

Cinven has acquired a majority stake in UK technology firm Smart Communications from investment firm Accel-KKR.

Accel-KKR will retain a minority position in the business following the transaction, according to a statement on Friday that confirmed an earlier Bloomberg News report.

The deal values Smart Communications at about $1.8 billion including debt, people familiar with the matter have said.

Smart Communications provides customer conversations management platform for companies across Europe, North America and Asia. It was part of UK software firm Thunderhead until 2016, when it was spun out via a management buyout backed by Accel-KKR.

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