Commify, the company behind a global portfolio of business messaging brands, has announced its entry into the US market with the acquisition of CDYNE Services (‘CDYNE’) from CDYNE Corporation.
CDYNE, based in Chesapeake, Virginia, is a longstanding and fast-growing provider of multi-channel CPaaS solutions in the US, including messaging, voice and verification services.
CDYNE, founded in 1999, is highly complementary to Commify, providing mission critical communication solutions to Enterprise customers who value both a scalable product suite and local sales, account management and support. The core communications solutions include the SMS Notify and Voice Notify APIs, and the new Dash Notify self-service web platform. These solutions are complemented by phone number and postal address verification services.
CDYNE has over 1,500 customers across verticals such as Healthcare, Education and Financial Services, with a particular strength in partnering with mid-market software providers. This focus on high quality verticals, use cases and partnership models has driven long term growth, to an expected revenue of $14 million in 2022, and a highly recurring revenue model. This is demonstrated by the messaging products delivering long term growth above 20% and NRR above 115%.
“We are delighted to be entering the US market and in particular to be partnering with John and the CDYNE team to support continued growth across our global footprint,” said Richard Hanscott, CEO of Commify. “Our market opportunity is compelling and CDYNE helps Commify to address this market by bringing further high-quality scale in all areas – customers, products and of course our new team in the US.”
John Sanders, President of CDYNE comments: “As a mid-market leader in the US CPaaS space, CDYNE is known for its unrivaled customer service, reliability, and deliverability. The partnership with Commify, backed by a seasoned management team and with its impressive scale in the global CPaaS market, immediately elevates CDYNE’s core offering, benefiting future and existing customers alike. We believe the US mid-market is underserved and underpenetrated, presenting a compelling opportunity for CDYNE and Commify to drive long term growth and to become the undisputed leader in Messaging and Voice solutions to the mid-market.”
Paul Burton, Chief Strategy Officer of Commify added: “We have built Commify to become a scale leader in the mid-market enterprise and SME segments in Europe and Australia, underpinned by a central strategy and technical investment enabling local go to market teams to support our customers’ growth. Now is the perfect time for Commify to enter the fragmented and high growth US market, and in CDYNE we are partnering with a business that fits perfectly with our strategy and growth ambitions.”
CDYNE Corporation was advised by Guggenheim Securities LLC as exclusive financial advisor and Troutman Pepper as legal counsel. Commify was advised by Grant Thornton for financial and tax due diligence, Strategy& for commercial due diligence, S-RM for cyber security due diligence, Deloitte for tax structuring and Norton Rose Fulbright as legal counsel.
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