Audax Private Equity (“Audax”) announced that its portfolio company, Astute, Inc. (“Astute”), a leading provider of SaaS-based, omnichannel consumer engagement software, has acquired Socialbakers, a.s (“Socialbakers”). This is the second acquisition Astute has completed under Audax ownership, following the purchase of iperceptions in July 2020.
Headquartered in Prague, Czech Republic, Socialbakers is a leading global provider of social media management and digital marketing software. Socialbakers' AI-powered social media marketing suite helps brands and businesses monitor, engage, and grow their customer base, ensuring their social media investments deliver measurable business outcomes.
“Astute has consistently grown its suite of customer experience management offerings since Audax’ investment in 2019,” said Mark Zablan, CEO of Astute. “Building on 25 years of experience in customer engagement and care, Astute has expanded its product portfolio to include AI-powered CRM tools, social care, digital self-service, email RPA, chatbots, and Voice of the Customer (“VoC”) tools, all supported by an underlying knowledge base and analytics platform. The combination with Socialbakers will create an integrated platform that provides a 360-degree view of the customer across channels, allowing global brands to manage customer experience from the first customer touchpoint all the way through post-purchase care. Socialbakers’ expertise in social media management and related analytics will further enrich the combined end-to-end solution, benefitting both Astute and Socialbakers customers.”
"Consumer demand for outstanding omnichannel customer experience means brands are looking for a unified platform to manage the customer journey across all touchpoints,” said Yuval Ben-Itzhak, CEO at Socialbakers. “We are very excited to be joining with Astute to provide brands with an integrated customer experience platform, enabling them to deliver a best-in-class experience across the entire omnichannel customer journey. Today, many brands are already leveraging both the Socialbakers and Astute platforms, and we are looking forward to expanding our combined offering to brands and businesses around the world.”
The acquisition also serves to strengthen Astute’s presence globally. The existing Socialbakers platform will be maintained and developed for further integration with the Astute platform. Astute and Socialbakers will have a combined team of over 600 employees across more than 16 global locations, serving almost 3,000 customers in over 100 countries.