DENVER, July 14, 2021 - CSG(R) (NASDAQ: CSGS), the leader in innovative customer engagement, revenue management and payments solutions that make ordinary customer experiences extraordinary, today announced the acquisition of Kitewheel, the leading provider for customer journey orchestration and analytics. The acquisition unites respective industry leaders and propels CSG into new industry verticals, unlocking a $10 billion global market growth opportunity that further extends the company's position in customer experience management.
'Kitewheel is a natural extension to CSG's customer engagement portfolio and strengthens our presence in faster growing industry verticals like retail, financial services and healthcare, which further diversify our revenue mix and customer base,' said Alfred Binford, president of customer engagement for CSG. 'Kitewheel's expertise and established market leadership will enhance our ability to deliver greater value to new customers around the world and turbo-charge the global expansion of our customer engagement business.'
According to Forrester's research on "How to Choose the Right Tech for Your CX Needs" (June 29, 2021), "[c]ustomer-obsessed firms must break down organizational silos to focus on the needs of their customers. But disparate and overlapping technology investments severely hamper their collaboration efforts.'
The combination of CSG's digital customer engagement technologies and Kitewheel's journey orchestration and analytics SaaS technology creates a powerhouse, cloud-based, engagement platform that orchestrates real-time, contextually relevant customer experiences for leading brands. The result is a real-time interaction management platform that bridges the gap between information silos and taps into the power of unified customer interaction and behavioral data to produce meaningful, end-to-end customer journeys.
'In today's hyper-connected, hyper-personalized world, the ability to offer differentiated customer experiences can make or break a company and brand,' said Mark Smith, president, Kitewheel. 'By joining the CSG family, Kitewheel brings added scale to our combined customer engagements portfolio, tying together CSG's proven products, experiences practice, journey orchestration, analytics and communication engagement channel solutions. These real-time interaction management capabilities are unmatched in the industry and offer an end-to-end solution with the agility and intentionality companies need to wow their customers.'
CSG and Kitewheel have already successfully sold and delivered multiple customer wins worldwide, including a full-suite deployment at one of the world's largest global banks. The financial services giant turned to CSG and Kitewheel to simplify and automate its mortgage notification process and comply with various regulations. The bank increased its digital customer notifications by over 10%, reduced paper and postage costs and improved overall operational efficiency. Based on the success of the mortgage use case, the bank has since expanded the CSG-Kitewheel technology suite to other lines of business in its ongoing effort to provide optimized micro-journeys for exceptional and personalized customer experiences.
Building on a successful partnership that began in 2018, this acquisition combines two industry leaders - CSG, a global leader in the Gartner Magic Quadrant for Integrated Revenue and Customer Management and Kitewheel, a leader in The Forrester Wave(TM): Journey Orchestration Platforms, Q4 2020 and a visionary in the Gartner Magic Quadrant for Digital Marketing Hubs.
For more information on CSG's customer engagement solutions, visit https://www.csgi.com/capabilities/customer-engagement/.
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Kitewheel empowers the world's largest businesses to understand and improve the consumer experience with the leading customer journey management platform. Kitewheel's innovative Customer Journey Hub orchestrates intelligent customer journeys by unifying decisions across disparate systems, touchpoints, and technologies and provides seamless customer experiences that drive real-time revenue as well as long-term loyalty. Kitewheel serves its global partner and client base from offices in Boston and London. For more information, please visit http://www.kitewheel.com and follow Kitewheel on Twitter and LinkedIn.
For more than 35 years, CSG has simplified the complexity of business, delivering innovative customer engagement solutions that help companies acquire, monetize, engage and retain customers. Operating across more than 120 countries worldwide, CSG manages billions of critical customer interactions annually, and its award-winning suite of software and services allow companies across dozens of industries to tackle their biggest business challenges and thrive in an ever-changing marketplace. CSG is the trusted provider for driving digital innovation for hundreds of leading global brands, including Airtel Africa, América Móvil, AT&T, Charter Communications, Comcast, DISH, Formula 1, Hutchison 3 Indonesia, Inmarsat, Mastercard, Maximus, Microsoft, Mobily, MTN, New Leaf Service Contracts, State of California DMV, TalkTalk and Telstra. To learn more, visit our website at csgi.com and connect with us on LinkedIn and Twitter.
Copyright (c) 2021 CSG Systems International, Inc. and/or its affiliates ('CSG'). All rights reserved. CSG(R) is a registered trademark of CSG Systems International, Inc. All third-party trademarks, service marks, and/or product names which are referenced in this document are the property of their respective owners, and all rights therein are reserved.
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