Bazaarvoice, a provider of product reviews and user-generated content (UGC) solutions, has announced a majority investment from private equity firm Thomas H. Lee Partners (THL).
Marlin Equity Partners, the current majority investor in Bazaarvoice, will continue to be a material shareholder.
“Over the last year, Bazaarvoice has grown significantly by expanding its integrated solution portfolio in response to our customers’ increasing and growing need to leverage UGC at scale to drive revenue,” said Bazaarvoice CEO Keith Nealon in a release.
He continued: “THL shares our and Marlin’s passion for software and content that help companies build and grow their e-commerce businesses. We are excited to partner with THL for the next chapter of growth for Bazaarvoice.”
Jeff Swenson, managing director at THL, said: “Shopping migration from offline to online channels is a trend that we expect to sustain for many years.
“Consumers value the voices of other consumers in their shopping journeys, and Bazaarvoice offers marketers a mission-critical set of solutions to help acquire, curate and deliver UGC at scale to their customers.
“THL is excited to support Bazaarvoice in continuously growing and innovating its software and content offerings to help brands and retailers drive e-commerce revenue.”
Terms of the transaction were not disclosed. It is expected to close in calendar Q2 2021.
Image: Jeshoots.com, Pexels