INDUSTRY NEWS



TMCNet:  Audax Private Equity Announces Partnership with Astute, Inc.

[April 10, 2019]

Audax Private Equity Announces Partnership with Astute, Inc.

Audax Private Equity ("Audax") today announced it has made an investment in Astute, Inc., ("Astute" or "the Company"), a leading provider of AI-driven customer engagement, digital self-service, and first-party consumer data management software headquartered in Columbus, OH.

Ray Carey, CEO of Astute, said, "We're looking forward to partnering with Audax as we embark on an exciting new chapter of our story. Astute's mission is to help our clients create amazing customer experiences that drive loyalty, revenue, and brand protection, and we're excited about the resources and expertise Audax brings to support that mission."

In the past year, Astute has received numerous industry awards for product innovation and expanded its leading presence in the customer experience software market both in North America and Europe through the strategic acquisition of its primary consumer affairs competitor.

Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, "Astute's software assists the world's largest consumer brands in capturing and analyzing insights to improve customer engagement and satisfaction. There are exciting growth opportunities on the horizon for Astute as they continue to grow organically and through strategi acquisitions, both foreign and domestic. We are thrilled to support Ray and the Astute team as they continue to innovate in this exciting space."

Terms of the transaction were not disclosed. Lazard acted as exclusive financial advisor and Perkins Coie LLP served as legal counsel to Astute. Ropes & Gray LLP served as counsel to Audax.

ABOUT ASTUTE

Astute builds AI-driven software for the future of consumer engagement. We help the world's best brands enhance engagement with their consumers by contextually blending human and artificial intelligence. Astute's technology enables companies to provide more efficient customer service, protect their brands, and increase customer loyalty. Learn more at astutesolutions.com.

ABOUT AUDAX PRIVATE EQUITY

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $24 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in 120 platforms and 750 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 240 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.


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