I’m thrilled to announce we have just closed a very strategic transaction with Francisco Partners. With this transaction, Francisco is acquiring Avangate and investing additional capital to further accelerate our already impressive growth. Francisco Partners is one of the most respected private equity firms in the world with over $7 Billion under management and we are extremely pleased to find an investment partner who shares our vision of Customer Centric Commerce. Even more importantly, the capital investment will help us further scale up our operations, deliver expanded platform capabilities, and better serve and support you, our customers.
When Avangate was founded 7 years ago, commerce for our software customers was already shifting rapidly with customers asking questions like — “How do we take advantage of this shift to online and digital distribution?” and “How do I start to sell into new global markets?” With each year, we have also seen the definition of what is considered software continue to evolve. We’re now seeing an explosion in SaaS and Cloud Services prompting new questions like — “How can I quickly optimize new business models, like subscriptions and usage-based billing,” and “How do I transition and monetize SaaS and Mobile,” to increasingly, “How can I maximize and monetize each customer touch point?”
The proliferation of customer choice, available information, and ubiquitous touch points has also changed buyer behavior at both traditional B2C and B2B companies driving buyers to not only look for information, but also to seek how they can interact and transact with you on their terms. These changes are forcing companies to rethink their commerce solutions.
Today, we have over 3,000 customers across more than 100 countries who have chosen us because they required a more customer centric and agile commerce solution that unites online eCommerce, reseller & affiliate management, subscription billing, and global payments in a single, complete platform.
Our new partnership with Francisco Partners is a significant milestone in Avangate’s journey and I would like to use this opportunity to thank you, our customers and partners, for your loyal support over the past 7 years. We could not have reached this milestone without you and we look forward to serving you for many years to come as you grow your worldwide sales – across channels, business models, and markets.