Iris Capital exits messaging provider Tyntec
Iris Capital portfolio company Tyntec, a global cloud communications provider, today announced that it has secured the backing of new investors Cipio Partners and Harvard Management Company for structuring a purchase of the shareholdings of its previous backers Iris Capital and HarbourVest.
“It has been a tremendous journey with the company and we are glad that Tyntec is now well positioned for its next level of development” said Erkan Kilicaslan, Managing Partner at Iris Capital.
“Tyntec is truly poised to accelerate its growth at the core of the business-critical messaging and CPaaS markets,” adds Roland Dennert, Managing Partner at Cipio Partners, who has recently joined the company’s board. Tyntec has regrouped all its regional operations under a new holding company, the Tyntec Group Limited, based in London, UK.
The realignment comes as Tyntec enters its next phase of growth. With the growing enterprise demand for real-time communications utilizing messaging and voice, the cloud communications provider prepares to announce new services for person-to-person (P2P) messaging and the global Communications Platform as a Service (CPaaS) markets in the US and Canada.
The transaction is expected to close in February 2017.