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Sageworks, One Of The Country's First Fintech Companies, Is Acquired By Accel-kkr

by vcaonline.com posted 6months ago 64 views
Sageworks, one of the country's first Fintech companies, is acquired by Accel-KKR MENLO PARK, Calif., May 18, 2018-- Today, Accel-KKR and Sageworks announced the purchase of Sageworks by AKKR, a private equity firm based in Menlo Park, California. The amount of the transaction was not disclosed. Sageworks is the leading provider of financial software and information products to U.S. financial institutions. Its first flagship product, ProfitCents, brought to market in 1998 and based on a proprietary artificial intelligence system, was originally designed to convert financial numbers into plain language to help business owners understand their financial statements.