Crescendo EP Acquires 100% Stake in European Voice Security Software Company
Investment Utilizing the Third Fund
Acquisition Amount in the Tens of Billions of Won
Crescendo Equity Partners, a domestic private equity fund (PEF) management company, has acquired Phonexia, a European voice security software company.
Crescendo Equity Partners announced that it acquired 100% of Phonexia's shares through its third blind fund, which was established in December 2021 with a total value of 1.1 trillion won. The transaction amount is reported to be in the several tens of billions of won range.
Founded in 2006, Phonexia has developed a voice and speaker analysis platform capable of identifying speakers, estimating gender and age group, distinguishing languages, and converting speech to text using only voice data. In particular, it became a global leader in voice biometrics and recognition by commercializing a technology that identifies speakers using deep neural networks for the first time in the world in 2018. Currently, Phonexia supplies voice security forensic solutions to major intelligence and investigative agencies in Europe and has secured a number of clients in Korea as well.
Crescendo Equity Partners believes that Phonexia's technological capabilities have significant potential to expand beyond public sectors such as investigation, intelligence, counterintelligence, and security, into a wide range of commercial markets that require customer center and authentication solutions, including finance, telecommunications, electronics, and mobile. In particular, the company plans to actively support Phonexia in entering the Asian market by collaborating with Korean information and security companies.
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Park Sungmin, Deputy CEO of Crescendo Equity Partners, stated, "Phonexia has already proven its competitiveness as a global powerhouse in the voice security sector within the European public market," adding, "As threats from deepfakes and voice fraud increase, we will be a strong partner to help Phonexia, which has tremendous potential, play a leading role on the global stage."
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