October 2, 2019
Technology, Software, SaaS, Digital Media and Media, Digital Media
Mergers and Acquisitions
GCA Advises Piano Software on Its Acquisition of Cxense
GCA is pleased to announce our client, Piano Software, a leading provider of digital content monetization and audience intelligence software, has acquired all of the outstanding shares of data management leader Cxense (OSE: Cxense) through a voluntary cash offer of NOK 16.00 per share.
Based in New York, Piano Software Inc. (“Piano”) is a fast-growing SaaS company, empowering companies to create customized digital experiences and commercial relationships for their users. Leading organizations use Piano’s award-winning enterprise platform to power their subscription, registration, analytics, entitlement and personalization efforts.
Cxense ASA (“Cxense”) helps publishers and marketers across the globe to transform their raw data into their most valuable resource. Cxense's leading Data Management Platform with Intelligent Personalization gives companies unprecedented insight into their individual customers and enables them to action this insight real-time in all marketing and sales channels. Cxense Conversion Engine empowers publishers to monetize insight into their audience's behavior and preferences in order to increase subscription revenues. Cxense works with brands such as The Wall Street Journal, Aeon, Grupo Clarin, NBC Universal, The Mainichi Newspapers, Singapore Press Holdings and many more. Cxense is headquartered in Norway with offices worldwide and the company is listed on the Oslo Stock Exchange with the ticker “CXENSE”.
“We have been impressed by the Piano management team and the company’s high growth and significant development in the past years. It holds a great vision for further expansion, with Cxense providing significant value for that journey. Cxense and Piano are two highly complementary businesses with regards to product capabilities, geographical footprint and in terms of the respective teams. We are therefore confident this transaction will create a strong platform for further expansion. The offer is reflective of the significant synergies Cxense will bring to the joint company, and as such is viewed as a positive for Cxense shareholders and stakeholders at large,” commented Lars B. Thoresen, Chairman of the Board of Directors of Cxense.
“At Piano, we have always admired Cxense’s advanced product suite and have been watching the progress of the current management team with great respect,” commented Trevor Kaufman, CEO of Piano. “We are thrilled at the prospect of joining forces with Cxense’s global staff to create the SaaS market leader in powering personalized digital commercial experiences.”