Genesys acquires Interactive Intelligence to enhance Omnichannel customer experience
Genesys is committed to R&D investments to support growing product portfolio
Genesys and Interactive Intelligence have entered into a definitive agreement, where Genesys will acquire the cloud and on-premise solutions firm for approximately $1.4bn.
This transaction will accelerate Genesys' ability to execute on powering the best customer experiences at scale, anytime, anywhere - over any channel, in the cloud and on-premise. Both Genesys and Interactive Intelligence have developed capabilities, with highly complementary product portfolios that serve adjacent market segments.
Together, the combined company will provide the broadest customer experience solutions for organisations of all sizes around the world that support billions of customer interactions each year across a range of industries.
Genesys is committed to accelerate innovation in the customer experience market, with more than $1.3bn in revenue and annual R&D spend approaching $200m. Both cloud and on-premise product portfolios will continue to be supported and offered to the marketplace, with significant R&D investment across the full product portfolio.
Paul Segre, chief executive officer, Genesys, said; "This is a milestone transaction that combines industry-leading expertise and capabilities to enable lasting customer relationships, accelerate innovation and drive growth"
"We will significantly invest across the entire Interactive Intelligence product portfolio to support the continued momentum of PureCloud, Cloud Communications-as-a-Service (CaaS) and Customer Interaction Centre (CIC). We are excited to work with the Interactive Intelligence team to deliver even greater innovation and value to our global customers and partners."
Dr. Don Brown, chairman, president and chief executive officer, Interactive Intelligence, said; "We have been working for the past 22 years to build an outstanding company with innovative, disruptive technology solutions that transform businesses. I am confident that our agreement with Genesys, which follows a careful evaluation of strategic alternatives, provides Interactive Intelligence shareholders with immediate and significant value, and will deliver meaningful benefits to our customers, partners and employees.
"The combination of Genesys and Interactive Intelligence provides a complete portfolio to address all market segments by combining Interactive Intelligence's PureCloud, Cloud Communications-as-a-Service (CaaS), and Customer Interaction Centre (CIC) with Genesys' offerings. I am excited for the combined company to continue to grow and meet the needs of organizations around the world."
Under the agreement, Interactive Intelligence shareholders will receive $60.50 per share in cash, representing a premium of 36% to Interactive Intelligence's unaffected closing stock price on July 28, 2016, the trading day prior to media reports that Interactive Intelligence was considering strategic alternatives, and a premium of 42% to the 30 calendar day average closing price prior to the unaffected closing price on July 28, 2016.