Cinven to acquire a majority stake in Smart Communications from Accel-KKR.

Cinven, a global private equity firm, agreed to acquire a majority stake in Smart Communications, a provider for cloud-based enterprise customer communications, from Accel-KKR, a global software and technology-focused private equity firm. Financial terms were not disclosed. "We have been delighted to work with the outstanding Smart Communications management team as they established it as an independent company and brought innovation to the global CCM and IXM markets through accelerated investment in R&D, the launch of new products, and by entering into new geographic markets. While we will sell a majority interest in Smart to Cinven, we look forward to continuing to participate in the company's growth through an ongoing minority equity ownership position," Tom Barnds, Accel-KKR Co-Managing Partner.