We are pleased to announce that our portfolio company Sabio Group, a leading provider of customer contact technology, has acquired flexAnswer Solutions. This is the fourth acquisition Sabio has made since Horizon backed the management buy-out of the business in 2016.
Based in Singapore, flexAnswer provides multi-channel Virtual Assistants to public and private sector organisations across Asia. flexAnswer’s’ proven Virtual Assistant (VA) platform consists of a suite of VA Web, VA Voice, VA Bot and Knowledge Management solutions – all powered by the company’s advanced Natural Language Processing and machine learning technologies.
flexAnswer is a strategic acquisition for Sabio which significantly increases the amount of owned software in the group’s managed service solution. Sabio’s managed service helps organisations optimise digital engagement and seamlessly integrate this with other digital and human assisted services traditionally provided through contact centres.
The deal also scales Sabio’s existing Asian operations in Singapore and Malaysia. The combined group will employ over 50 staff in Asia and over 300 in Europe. Group revenue is now in excess of £80 million, increased from £40m at the time of Horizon’s investment.
Simon Hitchcock, Managing Partner, Horizon said “flexAnswer is a leading Virtual Assistant Platform which will scale rapidly in Europe as part of Sabio’s increasingly unique solution. We are delighted to be supporting the Sabio team as the business continues to execute on its strategy of geographic expansion and developing its own IP. We look forward to continuing to support the business as it develops organically and through further acquisitions.”
Andy Roberts, CEO of Sabio said “This is an exciting time for Sabio which has seen tremendous growth over the last 24 months since Horizons investment. We are delighted to have acquired flexAnswer which is a strong strategic fit for Sabio and adds to our rapidly evolving and high growth digital proposition. We plan to continue to develop the Group both organically and through selected acquisitions of complementary technologies and businesses.”
Horizon and Sabio were advised by Pinsent Masons, KPMG and Forrester.
About Sabio Group:
The Sabio Group delivers solutions and services that seamlessly combine digital and human interactions to support outstanding customer experiences. Through its own technology and that of world-class technology leaders such as Avaya, Nuance and Verint, Sabio Group helps organisations to optimise their customer journeys by making better decisions across their multiple contact channels. The group works with major brands worldwide, including the AA, Aegon, AXA Assistance, Bankia, BGL, BNP Paribas, Caixabank, DHL, Essent, HomeServe, Liverpool Victoria, Office Depot, Saga, Sainsbury’s Argos, SSE, Telefónica, Think Money, Transcom Worldwide and Unibet. For more information, visit www.sabio.co.uk,