Striata acquired by Doxim in major acquisition deal
Global digital communication and security specialist Striata today announced the sale of its business to customer communications and engagement technology company Doxim.
“This acquisition represents one of the most important milestones in our 21-year history,” says Striata CEO and Founder Michael Wright. “We see it as an opportunity to expand the full potential of the Striata platform, access more resources, more clients, more global exposure.”
The deal will see Striata’s Customer Communication Platform wholly acquired by Doxim.
“Doxim is purchasing the business, IP and future revenue streams of a growing and healthy business, as well a feature-rich and highly scalable software platform,” says Wright. “It is also buying a pathway into new territories, namely the UK, where it hasn’t yet built a presence, as well as clients in Asia.”
“The acquisition of Striata will extend the Doxim CCM Platform providing enhanced hyper-personalised interactive digital experiences all within a secure and compliant framework,” said Mike Rogalski, Doxim President and CEO. “The requirements for communicating with customers are quickly shifting to digital. Especially with the impact of COVID-19 and fewer face-to-face meetings, organisations need to find scalable ways to orchestrate multi-channel communications that are both personalised and legally compliant.”
Beyond the business alignments, Wright believes there are other, equally compelling, reasons for the deal.
“Striata and Doxim’s company cultures and market positioning are very similar and it’s exciting to see how we will integrate our technology, systems, people and value propositions,” he concludes.
Striata and its shareholders were exclusively advised by Novitas Capital Advisors.
From humble beginnings in Wright’s garage, Striata has grown to become an international technology success story. Founded in 1999 as The Email Corporation, it initially offered e-mail solutions for corporations to communicate with their customers. Nicholas Ramage joined founder Michael Wright in 2000 to head up software development and steer the start-up’s technology vision.
In 2003, Striata launched the Striata Application Platform, a secure document delivery solution, enabling companies to send customer documents by e-mail in a secure, encrypted format.
Four years later, it established a presence in the UK and in the USA, with a view to providing digital communication solutions in these markets. Striata was first featured in Gartner’s Magic Quadrant for CCM in 2018, and in 2019, was named as a Visionary in this market segment, and was included in Aspire’s Leaderboard in 2019 and 2020.
Today, the company services 80 clients in over 20 countries and has a team of 135+ employees situated in the USA, UK, South Africa, Hong Kong and Australia.