Global investment firm KKR will acquire Calabrio, a provider of customer engagement and analytics software. Financial terms of the transaction were not disclosed, but The Wall Street Journal is reporting that the deal is valued at roughly $200 million.
Founded in 2007, Calabrio provides products and services to help companies better understand their customers and leverage insights. Its flagship product, the Calabrio ONE software suite, is a unified workforce optimization (WFO) solution, including call recording, quality management, workforce management, and voice-of-the-customer analytics, that records, captures, and analyzes customer engagement center interactions. The company is a member of the Cisco Solution Partner Program and the Avaya DevConnect Program and recently announced a global strategic partnership with Five9.
"We've had tremendous growth over the past nine years and are at a stage where we're ready to grow even faster. There is huge potential for the customer engagement market, and KKR believes Calabrio and our modern approach is the best poised to take advantage of the market opportunity," says Tom Goodmanson, president and CEO of Calabrio. "The ability to understand your customer at every touch point is so crucial to growing a business today. We’re excited for the next phase of growth with KKR and expanding the role of the contact center as we accelerate our product roadmap, building on our platform and continuing to bring new solutions to the customer engagement market."
"Evaluating data to measure and improve upon success is not only the direction the WFO market is heading, but where the world is heading," said Vincent Letteri, director at KKR and a member of KKR's technology team, in a statement. "From its start, Calabrio has been forward-thinking in its innovative approach to customer engagement through analytical insights. We look forward to working with the team to continue to build upon its pioneering model of customer service."
"Calabrio has become one of the fastest-growing quality companies in workforce optimization and customer engagement. With our partnership, we hope to accelerate the company's growth even further as the world continues to move toward a customer engagement model through omnichannel integration," John Park, director at KKR and a member of KKR's technology team, added in a statement.