We’re pleased to have advised Abacas Software (Abacus), a Software as a Service (SaaS) provider, on its sale to US firm Naviga.
Operating from offices in London and Portsmouth, Abacus’ SaaS offering provides a unique proprietary Customer Data Platform (CDP) and Digital Experience Platform (DXP). The business’ proposition forms a powerful solution that can drive the entire content delivery process from content creation and production to delivery and audience analysis, helping brands and communities in the publishing and membership organisation sectors to improve revenue and engagement with personalised digital experiences and offers.
In 2013, private equity investor BGF backed Abacus, and has since provided close to £4 million of growth capital, enabling the business to increase its sales and marketing activity, accelerate product development and expand into new markets including B2C publishing, professional institutions and events.
Naviga Inc. is a leading provider of software and services powering media-rich industries. This acquisition expands Naviga’s footprint across Europe, and the combined business will be able to better deliver enhanced product offerings, extended service capabilities and broadened technical expertise to Naviga’s growing global customer base.
Al Bird, CEO of Abacus, said: “This deal marks an important milestone for us. Abacus is joining a premier global organisation which will help accelerate our innovation and value to customers.
“Combining our award-winning software functionality with Naviga’s existing content engagement platform will provide our customers with exceptional opportunities to grow engagement and revenue with personalised digital experiences and offers.”
James Mines, Partner at FRP Corporate Finance, said: “Abacus has found a natural home and great partner in Naviga, the combined business will have an enhanced proposition to offer to all its customers and provide a platform for Abacus to expand globally. We are delighted to have advised Abacus’ shareholders on this transaction and excited to see the business continue to grow as part of Naviga.”
William Gresty, Investor at BGF, said: “This deal marks the start of an exciting new chapter for Abacus, which has delivered impressive growth during the nine years it has been part of the BGF portfolio. What attracted us to invest in Abacus in the first place was the company’s strong vision and innovative outlook, which have proved highly prescient.
“It is a great fit for Naviga and Abacus’ offer will only add to the depth and quality to the range of solutions the group can provide to all its customers.
“It has been a pleasure working with James and Ben from FRP Corporate Finance. They have built a strong relationship with the different stakeholders in the transaction and worked tirelessly to the end to complete the deal.”