SessionCam sold to Glassbox Digital to support rapid growth
Software-as-a-Service (SaaS) digital customer experience provider, SessionCam has been sold to Glassbox Digital, a provider of digital experience analytics for web and mobile applications, in a deal advised by Clearwater International.
The combined company has more than 300 customers worldwide, including six of the world’s largest banks and leading brands including John Lewis, SuperDry, Admiral and Experian. The company’s first acquisition follows its recent infusion of €33.4m ($40m) in financing. The combined company will deliver the industry’s most complete and actionable view of all web and mobile interactions, to a larger number of businesses, enabling them to generate even more value and better serve their customers.
The Clearwater International team consisted of Partner and International Head of TMT Carl Houghton, Director Wesley Fell-Smith, and Associate Directors Kirsty Handley and Jonathan Grant.
Legal advice was provided to SessionCam by law firm Mills & Reeve.
Yaron Morgenstern, CEO of Glassbox said: “Our acquisition of SessionCam advances our mission to provide greater insight and value into how companies engage with their customers online by creating frictionless digital journeys. We found a true partner and shared set of values with SessionCam, and we are excited to welcome such a hardworking and talented team that has worked for a decade to improve the digital experience of millions of people across the world.”
Kevin Goodings, CEO of Sessioncam said: “We worked very closely with the team at Clearwater through every stage of activity related to our acquisition by Glassbox Digital. Their advice on deal tactics and negotiation strategy was particularly valuable in securing a very pleasing and successful outcome that met our objectives for the company, its customers, partners, staff and our shareholders. Throughout the entire process which encompassed the general uncertainty that affected everyone following the COVID outbreak, we felt their support, advice and guidance was first class…it certainly helped that we enjoyed working with the team.”
Wesley Fell-Smith, Director at Clearwater International said: “Web analytics is a rapidly growing market solving a high priority issue for CMO’s i.e. how to convert leads into sales. When we met Sessioncam, we felt that it was one of the standout products in the sector and are really pleased that we have helped Kevin and the team find the right partner to for the next phase of growth. It was a genuine pleasure and really fun working so closely with the team.”
James Hunter, Partner and Head of Norwich at Mills & Reeve said: “We were delighted to work alongside Wes and the team at Clearwater International and to support the shareholders of SessionCam through the sale process. We have watched and followed the progress of SessionCam as it has established a market leading position. At Mills & Reeve we act for some of the most exciting and innovative technology businesses as well as having a great mid-market M&A practice – we brought those together again for this transaction and wish Kevin and the team all the best under the stewardship of the Glassbox Group.”