Glassbox to Be Acquired by Alicorn Venture Partners to Accelerate AI Investment and Product Growth
May 20 2024 - 8:30AM
Business Wire
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.
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Media
Glassbox Kate Adams glassbox@pancomm.com
Alicorn Venture Partners Sarah Ashford
sarah@alicorn-vp.com