Transaction Details

August 23, 2021
New York

Sector

Technology

Deal Type

M&A

Deal Team

Josh Wepman, David Fegley, Nitish Jindal

GCA advises Conversocial on its sale to Verint

GCA acted as advisor to Conversocial, the social customer care SaaS platform, who have entered into an agreement to be acquired by Verint® (NASDAQ: VRNT), the Customer Engagement Company™. With this expansion, Verint’s market-leading conversational AI provides brands the ability to orchestrate customer journeys with a connected experience across their channels of choice.

The acquisition of Conversocial will expand Verint’s robust support for digital customer engagement with connections to most of the commonly used messaging channels, including Apple Business Chat, Facebook Messenger, Twitter, WhatsApp and more. Conversocial helps leading brands such as Google, Sephora, British Airways and Hertz build and scale relationships via the personal touch and convenience of social messaging.

In recent years, customer conversations have shifted from public social channels to one-to-one personalized messaging, and brands are increasingly looking for ways to turn messaging into a strategic commerce and care channel for customer experience advantage. According to Dan Miller, Lead Analyst at Opus Research: “For more than a decade, Conversocial helped brands add social networks and messaging platforms to their marketing and customer support channels. Verint’s clients will now benefit from the combined companies’ demonstrated ability to offer AI-infused self-service and assisted service to digital-first customers.”

Celia Fleischaker, Chief Marketing Officer at Verint, said: “Supporting Boundless Customer Engagement that goes beyond traditional care channels, we are reimagining what it means to be The Customer Engagement Company for a digital-first world. Adding new conversational AI and messaging channels to our digital engagement portfolio is another step in this direction and we welcome the Conversocial employees to Verint.”

Ido Bornstein-Hacohen, CEO of Conversocial, added: “We help brands deliver better customer experiences over messaging channels, while improving brand efficiency and customer satisfaction. We are excited to join forces with Verint, a leader in customer engagement to help organisations achieve their digital-first strategies.”

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