Interactive Intelligence Set to be Sold For $1.4B
The company was founded in 1994 and went public five years later.
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA California contact center technology company has announced a $1.4 billion agreement to acquire Indianapolis-based Interactive Intelligence Group Inc. (Nasdaq: ININ). Genesys says the deal is expected to close by the end of the year. Genesys says Interactive Intelligence shareholders must still approve the acquisition.
Interactive Intelligence Chief Executive Officer Don Brown, who helped launch the cloud software provider more than 20 years ago, says "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, and Customer Interaction Center with Genesys’ offerings. I am excited for the combined company to continue to grow and meet the needs of organizations around the world."
The deal had been rumored for weeks. Genesys says it will continue to support both cloud and on-premise portfolios of the combined company, including "significant" investment in research and development through its full line of products. Genesys CEO Paul Segre calls the combination a "milestone transaction." He adds "our combined product portfolio will provide the broadest set of transformative customer experience solutions optimized for customers of all sizes and sophistication levels, available both in the cloud and on-premise. We will significantly invest across the entire Interactive Intelligence product portfolio to support the continued momentum of PureCloud, Cloud Communications-as-a-Service and Customer Interaction Center, in addition to the rich portfolio of products offered by Genesys today. We are excited to work with the Interactive Intelligence team to deliver even greater innovation and value to our global customers and partners."
The agreement has been approved unanimously by the Interactive Intelligence board of directors, as well as by Brown. Brown owns some 17 percent of Interactive Intelligence shares.
Genesys has more than 4,700 customers in 120 countries. Interactive Intelligence has more than 2,000 global employees.
This story will be updated throughout the day on InsideINdianaBusiness.com, through Facebook, Twitter and the Inside INdiana Business mobile app.