Engageware Acquires Generative AI Firm Aivo
Engageware, the Massachusetts-based provider of customer engagement software, is acquiring Argentinian conversational and generative AI firm Aivo.
Founded in 2000, Engageware offers a comprehensive suite of self-serve and employee knowledge management solutions, as well as intelligent appointment scheduling, analytics, and client satisfaction (CSAT) tracking, all powered by conversational AI. Its customers can be found in the fields of finance, wealth and asset management, and insurance brokerage. Aivo, founded in 2012 and headquartered in Cordoba in central Argentina, is known as an innovator in AI-driven solutions for enterprise customer engagement, with deep customer relationships across fintech and banking, telecom, and retail.
Financial details of the transaction have not been disclosed, but the CX acquisition seeks to extend Engageware’s platform capabilities to help organizations automate customer service, reduce call center workload, increase sales, improve operational efficiencies, and boost customer satisfaction. Together with Aivo, Engageware will serve more than 700 enterprise customers.
Related Article: IT Leaders Prioritize Generative AI as a Game-Changer, But Concerns Abound
“We are thrilled to welcome Aivo to the Engageware family,” says Nina Vellayan, CEO at Engageware. “By integrating Aivo’s products into Engageware’s customer engagement platform, we help organizations deliver accurate and instantaneous information to their customers, no matter the channel.”
Martin Frascaroli, CEO and founder of Aivo, says that by joining forces with Engageware, Aivo hopes to help even more companies use AI to automate customer interactions. “Customers want personalized experiences and instant resolution. We are confident that joining Engageware will further our combined mission of revolutionizing how organizations help their customers address their needs globally.”
1WorldSync Acquires PowerReviews to Help Retailers Fuel Sales Online
Product content management leader 1WorldSync has acquired PowerReviews, the provider of user-generated ratings and reviews.
The CX acquisition will unite 1WorldSync’s strength in product content orchestration for brands and retailers to standardize critical, behind-the-scenes, consumer-facing content, together with the ability of PowerReviews to collect and syndicate user-generated content (UGC) and feedback, including ratings and reviews, Q&As, videos, and social media content.
Research has shown that the presence of ample, quality reviews is a significant driver of e-commerce and retail sales. Last year’s 1WorldSync Product Content Benchmark Report found that 46% of consumers read customer reviews on their smartphone while shopping in brick-and-mortar stores. And according to PowerReviews, consumers who interact with online ratings and reviews convert to purchasing and buying a product at 108% the rate of those who act otherwise.
“Adding PowerReviews to our suite of technology and solutions makes 1WorldSync the only provider that can help brands and retailers orchestrate all areas of the content you see on an online product detail page (PDP),” says Steve Sivitter, CEO at 1WorldSync. “User-generated content, whether ratings and reviews, Q&A, images, or videos, are critical to the e-commerce shopping and buying experience. Our ability to now offer these capabilities to our more than 17,000 customers is a key addition to our capability set.”
ResultsCX Acquires CXM Firm Zevas to Grow Footprint in Europe
ResultsCX, the Florida-based provider of customer experience management (CXM) services to global companies, is acquiring Irish CXM company Zevas Communications to expand operations and grow its footprint in Europe.
ResultsCX officials say the CX acquisition is a strategic step that will enable the company to build a powerhouse center of excellence in business-to-business (B2B) sales to optimize costs for clients, enhance capabilities, and create greater appeal for prospective customers. Zevas, established in 2001 and currently headquartered in Cork, Ireland, provides outsourced customer support in more than 20 languages to clients in Europe, Asia Pacific, and North America.
“Ireland has long been known as a technology hub, and with the acquisition of Zevas we have enhanced our footprint in the financial services segments that present a very attractive growth opportunity,” says Rajesh Subramaniam, CEO and managing director at ResultsCX.
John O’Sullivan, COO at Zevas, expresses enthusiasm about the deal. “Zevas is excited to be a part of the ResultsCX organization. I strongly believe that our operations will be boosted significantly in terms of scale and effectiveness from access to ResultsCX’s advanced platform, processes, and technology, as well as their focus on digital-led solutions for customer support and sales interactions.”
Inbenta to Acquire Canadian Interactive Product Demo Maker Horizn
Inbenta, the provider of an AI platform purpose-built to optimize CX headquartered in Allen, Texas, is acquiring Canadian firm Horizn, a provider of embeddable interactive product demos. The CX acquisition expands the Inbenta CX platform to go beyond text and adds a new component to the Inbenta customer service toolkit, enabling companies to rapidly develop, edit, and deploy step-by-step tutorials, aimed at improving self-service and reducing agent escalation.
The acquisition of Horizn comes as businesses increasingly look to leverage visually engaging content in their help centers and other customer service settings to improve CX and employee training. Horizn, headquartered in Toronto, has a large customer base with leading financial institutions in the US, UK, and its home country of Canada.
“Everyone knows how helpful and time-saving a tutorial can be when presented in an easy-to-understand, visual format,” says Melissa Solis, CEO at Inbenta. “The acquisition of Horizn marks yet another milestone in Inbenta’s journey to help companies more effectively drive down customer service costs, boost sales, and improve customer experience overall.”
Janice Diner, CEO and co-founder of Horizn, says the company is excited about its next stage of impact and innovation. “By acquiring Horizn, Inbenta has expanded the number of customer experience touchpoints that it can offer, setting itself apart from the industry’s text-reliant majority.”
The Horizn acquisition follows Inbenta’s announcement of a $40 million funding round in January 2023, led by Austin, Texas-based Tritium Partners, a private equity firm focused on technology and services firms that exhibit exceptional growth potential. Inbenta is using its resources to accelerate product innovation, including a broad generative AI integration effort announced earlier in August, and to drive new market expansion, partnerships, and additional M&A activity.
RingCentral to Acquire Video Offerings From Hopin
RingCentral, the California-based provider of AI-powered global enterprise cloud communications, video meetings, and contact center solutions, is acquiring select assets of UK firm Hopin, a supplier of online audience engagement technology.
Financial details of the transaction are not available, but the CX acquisition will include two Hopin flagship products: Hopin Events, an all-in-one event management platform that enables the planning and production of both virtual and hybrid events; and Hopin Session, a highly personalized engagement solution.
The acquisition expands RingCentral’s video solutions and strengthens the company’s ability to offer customers more choice, including specialized video use cases related to interactive events. Also to be included in the acquisition are technology assets, customer relationships, and Hopin talent in the engineering, product, and go-to-market divisions.
Related Article: CX Customer Wins for Ytel, RingCentral, Sprinklr, Talkdesk, and MoEngage
“This acquisition is a key next step in our journey to deliver more personalized and engaging video meetings and events for customers,” says Vlad Shmunis, founder, chairman, and CEO of RingCentral. “We expect the technology and outstanding talent from Hopin will accelerate our ability to achieve these goals and help us differentiate our entire video portfolio.”
Johnny Boufarhat, founder and CEO of Hopin, says the company is thrilled that Hopin technology will find a new home at RingCentral. “We’re excited about RingCentral’s plans to grow and invest in the Events and Session platforms as we continue to pursue our vision of building a community suite for creators and influencers.”
Author Information
Alex is responsible for writing about trends and changes that are impacting the customer experience market. He had served as Principal Editor at Village Intelligence, a Los Angeles-based consultancy on technology impacting healthcare and healthcare-related industries. Alex was also Associate Director for Content Management at Omdia and Informa Tech, where he produced white papers, executive summaries, market insights, blogs, and other key content assets. His areas of coverage spanned the sectors grouped under the technology vertical, including semiconductors, smart technologies, enterprise & IT, media, displays, mobile, power, healthcare, China research, industrial and IoT, automotive, and transformative technologies.
At IHS Markit, he was Managing Editor of the company’s flagship IHS Quarterly, covering aerospace & defense, economics & country risk, chemicals, oil & gas, and other IHS verticals. He was Principal Editor of analyst output at iSuppli Corp. and Managing Editor of Market Watch, a fortnightly newsletter highlighting significant analyst report findings for pitching to the media. He started his career in writing as an Editor-Reporter for The Associated Press.
