Under the acquisition, Glassbox to become a private company
Positions the leader in AI-fueled customer intelligence for next chapter of growth at scale
Glassbox (TASE: GLBX), the premier provider of AI-fueled customer intelligence solutions, today announced it has entered into a definitive agreement with Alicorn Venture Partners in an all-cash transaction valued at approximately $150 million.
Glassbox will become an independent, privately held company positioned to drive category-defining innovation and sustainable growth on its path to revolutionizing the way companies engage and connect with their customers online. The company will continue to be led by Chief Executive Officer Yaron Morgenstern and the existing management team.
"Today's announcement marks an exciting and pivotal time at Glassbox," said Glassbox CEO Yaron Morgenstern. "Alicorn, a cornerstone investor since our early days, has renewed their commitment with this powerful backing, underscoring their strong belief in our vision for the future. This investment not only validates our cutting-edge AI innovations and robust customer intelligence platform, but also enhances our capacity to meet the evolving needs of our global clientele. With Alicorn's support, we are ideally positioned to further accelerate our growth and continue leading innovation within the digital experience space."
Alicorn Venture Partners, a longstanding investor in Glassbox, has consistently supported the company's growth over the past several years. Their latest investment reaffirms their confidence in Glassbox's corporate strategy and market potential, particularly as the company doubles down on expanding its technological assets and AI capabilities.
"The Glassbox team are pioneers in integrating AI to revolutionize customer interactions," said Alexander Assim, Managing Partner of Alicorn. "We share the company's vision for the future of customer intelligence, making Alicorn the ideal partner to help scale Glassbox, as we cater to the increasing demand from large enterprises looking for significant improvements in digital experiences. We are enthusiastic about supporting Glassbox's continued growth as a leader in this industry and using our operational expertise to elevate the company to new heights."
Glassbox will continue working with the world's smartest digital brands across financial services and insurance, retail and e-commerce, and travel and hospitality to securely capture online customer data and elevate digital experiences in real time. Customers across various industries and geographies trust Glassbox to understand the motivations behind online customer behaviors so they can delight and convert customers with seamless, intelligent digital experiences.
The transaction is expected to close in Q3 2024, subject to approval by Glassbox shareholders and the satisfaction of other customary closing conditions. Upon completion of the transaction, Glassbox will no longer be traded or listed on any public securities exchange. Glassbox is represented in this transaction by Herzog Fox Neeman; Alicorn is represented by Fischer (FBC Co.).
About Glassbox
Glassbox (TASE:GLBX) is the premier provider of AI-fueled customer intelligence solutions, working with the world's smartest digital brands to revolutionize the way companies engage and connect with their customers online. Purpose-built for the enterprise, Glassbox securely captures data across infinite digital interactions to understand the root causes behind customer behaviors, transforming data into decisions so brands can act in mere minutes. Customers across industries and geographies, including Marriott Hotels Resorts, Quicken, Inc., Credit.com, Danone, L'Oreal, Nestle, Ace Hardware, Air Canada, and 60% of the world's largest banks, choose Glassbox to translate deep customer insights into enhanced digital experiences, leading to improved brand loyalty, conversions and revenue. Glassbox has been recognized for its industry prowess and strength of its solutions by G2, named as a G2 Top Software Company and a leader in multiple categories based on high satisfaction scores from real customer reviews. To learn more about the brain behind the smartest digital brands, visit: www.glassbox.com.
About Alicorn Venture Partners
Alicorn is a venture capital firm specializing in secondary investments across Europe. The firm invests in and acquires stakes in technology companies, spanning our expertise in high-tech, deep-tech, and beyond. We inject capital, provide expert advice, and leverage our partners and network to unlock growth, bringing the dedication of private equity investing to venture capital.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240520265468/en/
Contacts:
Media
Glassbox
Kate Adams
glassbox@pancomm.com
Alicorn Venture Partners
Sarah Ashford
sarah@alicorn-vp.com
