Nottinghamshire voice data firm sold as PE owner exits
A Nottinghamshire firm which employs around 150 people at its Bradmore base has been sold by its private equity owner.
Red Box Recorders, a £17m turnover company which captures voice data, has been sold by Livingbridge to US-based Uniphone, which trades in conversational artificial intelligence and automation.
In its latest available accounts, made up to the end of 2021, Red Box made a profit of £215,000 – a major drop from the almost £2m surplus it achieved in 2020.
Livingbridge partner Adam Holloway said: “This has been another successful technology investment for us, building Red Box from a UK compliance specialist into a global business with a leading proposition for enterprises seeking sovereignty over their data and access to a new world of AI and automation solutions. The combination with Uniphore brings clear strategic benefits, accelerating value for the group’s customers in a dynamic and fast developing market. We are hugely thankful to the leadership team and skilled employees of Red Box and wish them every success in the future.”
Richard Stevenson, Red Box CEO, said: “The support from Livingbridge to invest in our latest platform, Conversa, has been instrumental in Red Box’s transformation, allowing us to respond to and exploit new opportunities and service global enterprise customers. They have been strong and value-added partners for the business throughout. We are excited about the next chapter as part of Uniphore as AI and automation becomes increasingly embedded in the way businesses operate and grow.”
Livingbridge and Red Box were advised by James Clark and Gordon Beveridge of Obair Partners (corporate finance) and Amie Norris of Pinsent Masons (legal).
