Global digital communication and security specialist Striata today announced the sale of its business to customer communications and engagement technology company, Doxim.
“This acquisition represents one of the most important milestones in our 21-year history,” says Striata CEO and Founder Michael Wright. “We see it as an opportunity to expand the full potential of the Striata platform, access more resources, more clients, more global exposure.”
The deal will see Striata’s Customer Communication Platform wholly acquired by Doxim.
“Doxim is purchasing the business, IP and future revenue streams of a growing and healthy business, as well a feature-rich, and highly scalable software platform,” says Wright. “It is also gaining an entry into new territories such as the UK where it intends to focus on servicing clients and growing its market share.”
“The acquisition of Striata will extend the Doxim CCM Platform providing enhanced hyper-personalized interactive digital experiences all within a secure and compliant framework,” said Mike Rogalski, Doxim President and CEO.
“The requirements for communicating with customers are quickly shifting to digital. Especially with the impact of COVID-19 and less face-to-face meetings, organizations need to find scalable ways to orchestrate multi-channel communications that are both personalized and legally compliant.”
Beyond the business alignments, Wright believes that there are other, equally compelling reasons for the deal.
“Striata and Doxim’s company cultures and market positioning are very similar and it’s exciting to see how we will integrate our technology, systems, people and value propositions,” he concludes.
Striata and its shareholders were exclusively advised by Novitas Capital Advisors.