Cendyn announces strategic equity partnership with Accel-KKR
BOCA RATON, Fla., May 20, 2016 /PRNewswire/ – Cendyn, the leader in software solutions for driving sales and marketing performance in the travel and hospitality industry, announced today it has received a growth equity investment from Accel-KKR, a leading technology-focused private equity firm. As a result of the new partnership, Cendyn will accelerate its investments in its existing product portfolio, new product innovation, and market expansion driving more value for its current and future customers. Terms of the investment were not disclosed.
Founded in 1996, Cendyn develops cloud-based software used by tens-of-thousands of hotels and resorts around the world. Cendyn offers two core product lines. Cendyn/ONE combines CRM with Data-Driven Digital Marketing in a single, fully integrated platform. This innovative solution delivers a centralized view of guest data that enables highly targeted communications across all digital media channels and throughout the entire guest lifecycle. Cendyn Arcaneo, provides an integrated platform for meeting planners, suppliers, and enterprises to plan, source, manage, and measure end-to-end meetings and events execution.
“For more than 20 years, Cendyn has found success by leveraging our deep travel and hospitality domain expertise to develop market leading products that meet the needs of our clients,” said Charles Deyo, CEO of Cendyn. “We are excited to be partnering with Accel-KKR. This partnership positions us to capitalize on the growth opportunities in the market and to accelerate our product innovation.”
“Cendyn has all the characteristics that Accel-KKR looks for in an investment: an industry-leading technology platform, a superior service delivery platform, proven market leadership demonstrated by a world-class client base and a talented management team,” said Rob Palumbo, Managing Director at Accel-KKR.
Cendyn is a cloud-based software and services provider that develops integrated technology platforms for driving sales and marketing performance in the travel and hospitality industry: Cendyn/ONE, providing an integrated CRM and Data-Driven Digital Marketing platform for hotels and resort; and Cendyn Arcaneo, providing an integrated Meetings and Events Management Platform which is revolutionizing the way clients plan, source, manage and measure events worldwide. With office locations in Boca Raton, Atlanta, Boston, Toronto, London and Singapore, Cendyn proudly serves over 30,000 clients in 143 countries with enterprise spend levels in excess of $1 billion USD. For more information on Cendyn please visit www.cendyn.com.
Accel-KKR is a technology-focused investment firm with $4.0 billion in capital commitments. The firm invests in software and IT enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions from minority-growth investments to buyouts, recapitalizations, divisional carve-outs and going-private transactions. The firm has offices in Menlo Park, Atlanta and London. For more information, please visit www.accel-kkr.com.