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Feb 21, 2024

GemSeek sale to Accenture, a leading CX analytics provider

Silverpeak, the mid-market technology specialist that represents European growth businesses in M&A and financing transactions, has acted as the exclusive financial adviser to GemSeek, a leading customer experience analytics provider helping global businesses understand customers through insights, analytics and AI-powered predictive models, on its sale to Accenture. The acquisition underscores ongoing investments in data and AI capabilities to help clients grow their business and sustain relevance with customers.

Founded in 2011, and headquartered in Sofia, Bulgaria, GemSeek offers expertise in advanced analytics and customer experience program management, along with proprietary technologies. The company is led by technology and analytics veterans – Petko Tinchev, Kaloyan Stefanov, Ivaylo Yorgov, and Morgan Evans – and they are supported by c.200 consultants skilled in technology, data engineering, social sciences, insights analytics, and advisory. They help clients across several industries—including telecommunications, healthcare, consumer goods, and financial services—to realise the full potential of their customer experience programs, cultivate enduring customer relationships, and improve revenues and operational efficiencies. GemSeek boasts an enterprise client portfolio that includes Fortune 500 organisations such as Philips Healthcare, Roche, and Liberty Global.

Silverpeak was engaged by the GemSeek board and institutional investors, (including Beechbrook Capital and Access Capital), due to a strong familiarity with consumer insights, data and AI services and technology software as well as close relationships with major strategic/financial players in those markets.

Silverpeak worked with the GemSeek board and management as adviser on their journey to a strategic realisation. This involved streamlining the company vision and strategy, as well as adjusting the positioning by redefining the company’s USP, its market approach, and its service offering. This novel equity story was supported by a full suite of investor materials. Silverpeak identified the most relevant global buyers that would benefit from this data science & analytics CX business with a dominant position in Europe. This meticulous approach resulted in multiple offers valuing the business at a strategic premium. The Silverpeak team played a pivotal role in structuring and negotiating this complex transaction to completion.

The sale to a global leader epitomises GemSeek’s overarching objective: leveraging the power of analytics and AI to drive customer experience excellence on a global scale.

Petko Tinchev, CEO of GemSeek, commented “We extend our gratitude to the whole team at Silverpeak who promptly understood the unique dynamics of our industry and business model and ensured a smooth and competitive transaction process. Their professionalism and work ethic helped us secure this great outcome for us as a company and our shareholders.”

Nick Jones, Senior Advisor at Silverpeak, said “It has been pleasure to work with Petko and the team; they are a highly talented and professional group with a great track record. They have made significant strides in establishing themselves as Europe’s preeminent consultant in the experience intelligence space, and with the backing and extensive network of Accenture they are poised to accomplish remarkable things on a global scale.”