Glasgow-headquartered SVL Business Solutions has been acquired by FourNet, bringing its 41 employees into a combined business with more than 230 people, over 450 customers and revenues of around £65 million.
The two companies have worked alongside each other for nearly a decade. SVL specialises in contact centre and customer experience transformation, serving customers in financial services, utilities, public safety and other enterprise markets.
Its expertise in interaction recording, analytics and workforce management has expanded over the past five years into wider customer experience transformation and artificial intelligence.
FourNet said the acquisition would increase its capacity to deliver transformation projects, particularly in financial services and other regulated markets. SVL customers will continue to work with the same people while gaining access to FourNet’s wider team and capabilities.
Richard Pennington, co-founder and chief executive of FourNet, said: “We have known SVL and worked alongside its people for nearly a decade, so we know exactly what we are getting: talented specialists who provide an excellent service to organisations where services simply have to work.”
Both companies serve many of the same sectors and share technology partners, including NiCE. FourNet combines consultancy and customer experience and AI services with cybersecurity and operational capabilities.
Pennington said: “Organisations are now moving AI out of pilots and into everyday customer service. They need help proving its value, redesigning the customer journeys and processes around it, and implementing it safely.”
Stuart Sinclair, chairman of SVL Business Solutions, said: “Our customers stay with us because of our people, our expertise and the quality of service we provide. Joining FourNet protects those strengths while giving our customers a much larger team and a broader range of capabilities behind them.”
He added: “This gives our people greater opportunities to develop, gives our customers access to additional expertise and investment, and provides a strong platform for SVL’s continued growth.”
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The deal is FourNet’s fifth acquisition since 2020. Private equity firm Palatine has backed the business since 2021.
James Painter, partner at Palatine, said: “SVL represents a highly strategic acquisition for FourNet given the complementary customer base and technology partnerships. It brings specialist expertise which strengthens FourNet’s customer experience transformation proposition into mission-critical sectors.”
