The investment will further accelerate 1E’s strong growth as Unified eXperience Management becomes critical for businesses shifting to hybrid work
1E, a leader in Unified eXperience Management (UXM), announced that The Carlyle Group, a global investment firm, has acquired a majority stake in the company. Founder and CEO, Sumir Karayi will retain a significant minority stake and remain CEO of the company. The financial details of the transaction were not disclosed.
1E’s current senior management team will remain with the company. Cormac Whelan will be appointed as Chairman, as the business embarks on its next phase of growth. Cormac brings with him more than 30 years of leadership experience in the software and IT industries. A portion of the business will continue to be employee-owned with all employees sharing in the company’s future growth.
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1E is a leading Unified eXperience Management (UXM) software solutions provider and its technology currently manages over 11 million endpoints. Its Tachyon technology actively improves the digital experience of all employees, providing analytics, sentiment analysis and real-time automation to remediate issues in real-time. Most customers integrate Tachyon into their existing Microsoft and ServiceNow infrastructure in order to deliver an integrated digital employee experience, optimize costs and create IT efficiencies with a tangible return on investment. The company is enabling more than 500 global customers transform their employee experience and has driven a collective $3 billion in productivity savings.
Leveraging its significant experience in scaling technology companies, Carlyle will support 1E’s international growth plans, including expanding its software enterprise business in the US and the UK, as well as investing in the company’s innovative product suite and go-to-market teams. Equity for the investment comes from Carlyle Europe Technology Partners (CETP) IV, a €1.35 billion fund that invests in small and middle-market technology-focused opportunities in Europe and the US.
Fernando Chueca, a Managing Director in the Carlyle Europe Technology Partners (CETP) advisory team, said: “We were attracted to 1E’s fully integrated digital experience technology, which is differentiated by its advanced remediation and automation capabilities, and are delighted to partner with Sumir as we support the company as it enters its next phase of growth. With strong industry tailwinds, we believe 1E has significant growth opportunities and we look forward to supporting another founder-backed business to scale through investments in product innovation, commercial operations, and international expansion.”
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“The pandemic has accelerated a massive market opportunity to help global businesses transform the employee experience,” said Sumir Kayari, CEO and Founder of 1E. “The industry is at an inflection point and we’re poised for rapid growth as businesses formulate their post-pandemic plans for work. We are delighted to have the backing of Carlyle. Their experience with high-growth technology companies with a strong expertise in infrastructure software makes them the right partner to propel us through the next stage of our journey and illustrates 1E’s potential.”
The acquisition of 1E marks another important milestone for CETP’s infrastructure software practice, following previous deals including Eggplant, NetMotion Software, Apama, UC4/Automic Software and ITRS.
Rothschild & Co advised 1E on the transaction. 1E would like to thank their outgoing board members and shareholders, Dr. Steve Garnett, Barbara Karayi and David Carman.
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