IBB Law Advises on the Sale of QBox Ltd, Volume Group, to Cyara Inc

IBB recently advised the shareholder of QBox Corp Ltd, Volume Group Limited, on the sale of QBox to Silicon Valley headquartered Cyara inc.  The IBB team consisted of Adam Dowdney, Andrew Hayward and Sonia Jordan (partners) and Fiona Kelleher, solicitor in the Corporate & Commercial Team, Richard Devall, partner in the Employment Team and IBB’s Intellectual Property specialist, Alicia West.

QBox is a world leading SaaS conversational AI performance management & testing solution. The QBox Conversational AI testing tool is one of the best solutions available for testing and evaluating the performance of chatbots, voice assistants, and other conversational AI applications, enabling its users to simplify and accelerate these processes. QBox is helpful for testing the Natural Language Processing (NLP) component of chatbots. It evaluates the chatbot’s understanding and processing of natural language, which is crucial for ensuring accurate and relevant responses.

Cyara revolutionises the way businesses transform and optimise their customer experiences. Cyara’s AI-powered CX Assurance Platform empowers enterprises to deliver flawless interactions across voice, video, digital, and chatbot experiences. QBox brings a powerful platform that allows organisations to fully deploy, test, and continually improve conversational AI chatbots at scale.

Adam Dowdney said of the transaction:

We were delighted to be able to work with the team at Volume on this strategically important transaction for the Group.  QBox is a fantastic product and we look forward to following its further development within Cyara’s ownership.  The transaction which involved an initial hive down of the QBox business, had a number of complexities and the strength and depth of the IBB team enabled us to find solutions and a clear path to a successful completion for all involved. We wish QBox every success in the future and look forward to continuing to work with Chris and the Volume team.

Chris Sykes, CEO of Volume commented:

I’m delighted we had IBB by our side throughout this transaction. Acquisitions can be complex, and with a significant time difference between seller and acquirer, you need flexibility and a ‘can do’ attitude, particularly towards the end of the process. The IBB team went above and beyond. I’d like to thank Adam, his fellow partners and team for their tenacity, professionalism, and occasional bad jokes.