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BGF exits investment in award-winning content and software provider Abacus

BGF News 03.11.2022

BGF has announced the exit of its investment in long-term portfolio company, Abacus Software Ltd. The London-based SaaS subscription management platform has been acquired by Naviga Inc.

Abacus is an award-winning content and subscription management software provider with unique proprietary Customer Data Platform (CDP) and Digital eXperience Platform (DXP) offerings. The London-based business helps brands and communities in the publishing and membership organisation sectors improve revenue and engagement with personalised digital experiences and offers.

BGF backed Abacus in 2013, and has over the last nine years, provided close to £4 million of growth capital. During this time, BGF’s investment has enabled the business to increase its sales and marketing activity, accelerate the development of its software platforms, and expand its offering into adjacent markets including B2C publishing, professional institutions and events.

Founded in 1978, Abacus employs 55 people across offices in London and Portsmouth. Its customers include some of the most influential media companies and professional bodies with key clients including Ascential, Newsquest, DVV Media and the Royal Chemistry Society.

“BGF has been a supportive partner to the business over the last nine years and has helped us to launch valuable innovations to new clients while also transitioning our business model to a fully SaaS-based technology platform. These developments have helped to reposition the company at a critical time in the subscription services market and set us up for international growth. We have benefited from the investment team’s long-term, minority approach, and now look to the future with a real sense of enthusiasm following our partnership with new investors, Naviga Inc.

Al Bird, CEO of Abacus

William Gresty, investor at BGF, said: “It’s been a pleasure to work with Al Bird and the rest of the Abacus team since 2013. As one of our longest standing investees, we have helped the business to grow and evolve as a key partner to some of the biggest names in the media and publishing sectors. The business is now well positioned for future growth, and we wish them all the best on the next stage of their journey.”

Advisers to the deal include James Mines and Ben Lowe at FRP Advisory (Corporate Finance) and Gavin McNaughton at Lewis Silkin (Legal).



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