Key Takeaways
- • FourNet, the Manchester-based customer experience and AI transformation partner backed by Palatine Private Equity, has acquired Glasgow-headquartered SVL Business Solutions, per a Business Wire release.
- • The combined business has more than 230 people, over 450 customers and revenues of around £65m.
- • SVL contributes 41 employees and a specialism in contact centre and customer experience transformation, with a focus on financial services, utilities, public safety and other regulated markets.
- • The deal is FourNet's fifth acquisition since 2020, according to Palatine partner James Painter, and expands its financial services customer base, an area of growth for the business.
- • The companies have worked alongside each other for nearly a decade and share technology partners, including NiCE.
Summary
FourNet, a customer experience and AI transformation partner to organisations in mission-critical and regulated environments, has acquired SVL Business Solutions, according to a Business Wire release datelined Manchester. The combined business will have more than 230 people, more than 450 customers and revenues of around £65m.
SVL is a Glasgow-headquartered contact centre and customer experience specialist with 41 employees. Its expertise in interaction recording, analytics and workforce management has broadened over the past five years into wider customer experience transformation and AI. Its customers span financial services, utilities, public safety and other enterprise markets. Both companies already serve many of the same sectors and work with the same technology partners, including NiCE.
FourNet CEO and co-founder Richard Pennington said the companies had worked alongside each other for nearly a decade and that the acquisition is about people, customers and technology. He said it gives FourNet greater capacity to help more customers move AI from pilots into everyday customer service. David Kindness, CEO of SVL Business Solutions, said SVL customers will continue to work with the same people while gaining access to FourNet's wider team and capabilities.
James Painter, partner at Palatine, FourNet's private equity backer since 2021, described SVL as a highly strategic acquisition given its complementary customer base and technology partnerships. He said it is FourNet's fifth acquisition since 2020 and that the firm supports a platform built through organic growth and selected acquisitions. The release did not disclose the purchase price or deal terms.
SVL is a Glasgow-headquartered contact centre and customer experience specialist with 41 employees. Its expertise in interaction recording, analytics and workforce management has broadened over the past five years into wider customer experience transformation and AI. Its customers span financial services, utilities, public safety and other enterprise markets. Both companies already serve many of the same sectors and work with the same technology partners, including NiCE.
FourNet CEO and co-founder Richard Pennington said the companies had worked alongside each other for nearly a decade and that the acquisition is about people, customers and technology. He said it gives FourNet greater capacity to help more customers move AI from pilots into everyday customer service. David Kindness, CEO of SVL Business Solutions, said SVL customers will continue to work with the same people while gaining access to FourNet's wider team and capabilities.
James Painter, partner at Palatine, FourNet's private equity backer since 2021, described SVL as a highly strategic acquisition given its complementary customer base and technology partnerships. He said it is FourNet's fifth acquisition since 2020 and that the firm supports a platform built through organic growth and selected acquisitions. The release did not disclose the purchase price or deal terms.
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