Canaccord Genuity Advises Customer Journey Orchestration and Analytics SaaS Platform Kitewheel on its Sale to CSG
Canaccord Genuity is pleased to announce that it has advised Kitewheel, the leading provider for customer journey orchestration and analytics, on its sale to CSG® (NASDAQ: CSGS), the leader in innovative customer engagement, revenue management, and payments solutions that make ordinary customer experiences extraordinary. Building on a successful partnership that began in 2018, this acquisition combines two industry leaders – Kitewheel, a leader in The Forrester Wave™: Journey Orchestration Platforms, Q4 2020 and a visionary in the Gartner Magic Quadrant for Digital Marketing Hubs, and CSG, a global leader in the Gartner Magic Quadrant for Integrated Revenue and Customer Management.
Kitewheel empowers the world’s largest businesses to understand and improve the consumer experience with its leading customer journey management platform. Kitewheel’s innovative, SaaS-based Customer Journey Hub orchestrates intelligent customer journeys by unifying decisions across disparate systems, touchpoints, and technologies and provides seamless customer experiences that drive real-time revenue, as well as long-term loyalty. Kitewheel serves its global partner and client base from offices in Boston and London.
For more than 35 years, CSG has simplified the complexity of business, delivering innovative customer engagement solutions that help companies acquire, monetize, engage, and retain customers. Operating across more than 120 countries worldwide, CSG manages billions of critical customer interactions annually, and its award-winning suite of software and services allows companies across dozens of industries to tackle their biggest business challenges and thrive in an ever-changing marketplace. CSG is the trusted provider for driving digital innovation for hundreds of leading global brands, including Airtel Africa, América Móvil, AT&T, Charter Communications, Comcast, DISH, Formula 1, Hutchison 3 Indonesia, Inmarsat, Mastercard, Maximus, Microsoft, Mobily, MTN, New Leaf Service Contracts, State of California DMV, TalkTalk, and Telstra, among others.
The combination of Kitewheel’s journey orchestration and analytics SaaS technology and CSG’s digital customer engagement technologies creates a powerhouse, cloud-based engagement platform that orchestrates real-time, contextually relevant customer experiences for leading brands. The result is a real-time interaction management platform that bridges the gap between information silos and taps into the power of unified customer interaction and behavioral data to produce meaningful, end-to-end customer journeys.
Kitewheel is a natural extension to CSG’s customer engagement portfolio and strengthens the company’s presence in faster growing industry verticals, including retail, financial services, and healthcare, which further diversifies the combined companies’ revenue mix and customer base. Kitewheel’s expertise and established market leadership will enhance CSG’s ability to deliver greater value to new customers around the world and turbo-charge the global expansion of its customer engagement business.
In addition, Kitewheel brings added scale to the combined companies’ customer engagements portfolio, tying together CSG’s proven products, experiences practice, journey orchestration, analytics, and communication engagement channel solutions. These real-time interaction management capabilities are unmatched in the industry and offer an end-to-end solution with the agility and intentionality companies need to wow their customers.
CSG and Kitewheel have already successfully sold and delivered multiple customer wins worldwide, including a full-suite deployment at one of the world’s largest global banks. The financial services giant turned to CSG and Kitewheel to simplify and automate its mortgage notification process and comply with various regulations. The bank increased its digital customer notifications by more than 10%, reduced paper and postage costs, and improved overall operational efficiency. Based on the success of the mortgage use case, the bank has since expanded the CSG-Kitewheel technology suite to other lines of business in its ongoing effort to provide optimized micro-journeys for exceptional and personalized customer experiences.
Canaccord Genuity, with a team led by Sanjay Chadda, Matthew Kratter, Edin Trto, and Kevin Lynch, served as the exclusive financial advisor to Kitewheel.