Semafone, a U.K.-based provider of payment, fraud prevention and compliance solutions for call centers, said it has sold a majority stake in the company to private equity firm Livingbridge. The technology provider said it will use the capital infusion to further develop its solution and for global expansion.
“We have spent the last decade building the best solutions in the industry, and now is the time to further accelerate our growth by taking the company to the next level,” said Gary E. Barnett, CEO of Semafone. “Our commitment to ensuring data security is stronger now than ever, and with this investment we now have the opportunity to educate, inform, and change the way organizations process and secure sensitive customer data.”
Semafone’s announcement notes a Gartner market analysis indicating sales of risk management technology will grow more than 12 percent in 2021, reaching $150.4 billion. Financial details of the agreement were not disclosed.
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