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)1, today announced that The Carlyle Group (NASDAQ:CG), 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.
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1E CEO and Founder Sumir Karayi and Fernando Chueca, a Managing Director with Carlyle Europe Technology Partners (CTEP), celebrate Carlyle’s acquisition of 1E (Photo: Business Wire)
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.
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 to 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.”
“The pandemic has accelerated a massive market opportunity to help global businesses transform the employee experience,” said Sumir Karayi, 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, Dr. Steve Garnett and Barbara Karayi.
Carlyle (NASDAQ:CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
1E are the innovators in Unified eXperience Management (UXM) that supports the work from anywhere enterprise, so employees are secure, supported, and productive wherever they want to be. The 1E Tachyon Platform provides real-time diagnosis, remediation and automation that fixes issues, fast and without interruption. It puts employees in control, through self-service, self-heal and sentiment monitoring to understand how they really feel and reduces help desk calls and ultimately costs. That’s why more than 500 organizations in 42 countries trust 1E to help them manage 11 million endpoints seamlessly. For more information, visit www.1E.com.
Notes to editors
1E has recently been included in three Best Companies lists: ‘Technology’s 50 Best Companies to Work For,’ the ‘UK’s 100 Best Mid-Sized Companies to Work For’ and ‘London’s Best 50 Mid-Size Companies to Work For.’
1 Unified eXperience Management (UXM) offers an alternative to the siloed approach of Digital Experience Monitoring by integrating with all IT Ops and service desk functions and automation to go beyond analytics to actively remediate experience issues.