{"id":11071,"date":"2016-09-07T07:24:21","date_gmt":"2016-09-07T07:24:21","guid":{"rendered":"http:\/\/www.intelligentcio.com\/me\/?p=11071"},"modified":"2016-09-07T07:24:21","modified_gmt":"2016-09-07T07:24:21","slug":"genesys-to-acquire-interactive-intelligence-in-1-4-billion-deal","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/me\/2016\/09\/07\/genesys-to-acquire-interactive-intelligence-in-1-4-billion-deal\/","title":{"rendered":"Genesys to acquire Interactive Intelligence in $1.4 billion deal"},"content":{"rendered":"

Genesys (www.genesys.com<\/span><\/a>), a market provider\u00a0of omnichannel customer experience and\u00a0contact centre solutions<\/span><\/a>, and Interactive Intelligence Group (www.inin.com<\/span><\/a>), a provider\u00a0of cloud and on-premise solutions for customer engagement, communications and collaboration, have\u00a0announced that they have entered into a definitive agreement under which Genesys will acquire Interactive Intelligence in a transaction valued at approximately $1.4 billion. Under the terms of the agreement, Interactive Intelligence shareholders will receive $60.50 per share in cash, representing a premium of 36% to Interactive Intelligence\u2019s 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.<\/span><\/p>\n

This transaction will accelerate Genesys\u2019 ability to execute on its mission of powering customer experiences at scale, anytime, anywhere \u2013 over any channel, in the cloud and on-premise. Both Genesys and Interactive Intelligence have developed best-in-class capabilities as recognised by Gartner and other leading industry analysts, with highly complementary product portfolios that serve adjacent market segments.\u00a0<\/span><\/p>\n

As a larger entity with increased scale, Genesys is committed to accelerate innovation in the customer experience market, with more than $1.3 billion in revenue and annual R&D spend approaching $200 million. 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.<\/span><\/p>\n

\u201cThis is a milestone transaction that combines industry-leading expertise and capabilities to enable lasting customer relationships, accelerate innovation and drive growth,\u201d said Paul Segre, Chief Executive Officer, Genesys. \u201cOur combined product portfolio will provide the broadest set of transformative customer experience solutions optimised 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 (CaaS) and Customer Interaction Centre (CIC), 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.\u201d<\/span><\/p>\n

Dr. Don Brown, Chairman, President and Chief Executive Officer, Interactive Intelligence said, \u201cWe 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\u2019s PureCloud, Cloud Communications-as-a-Service (CaaS), and Customer Interaction Center (CIC) with Genesys\u2019 offerings. I am excited for the combined company to continue to grow and meet the needs of organizations around the world.\u201d<\/span><\/p>\n

Approvals<\/b><\/span><\/p>\n

The transaction is expected to close by the end of the year, subject to customary closing conditions, including regulatory approval and approval by Interactive Intelligence shareholders. The transaction has been unanimously approved by Interactive Intelligence\u2019s Board of Directors and Genesys\u2019 Operating Committee. Dr. Brown, who owns approximately 17% of Interactive Intelligence shares, has agreed to vote his shares in favor of the transaction.<\/span><\/p>\n

Additional Details<\/b><\/span><\/p>\n

Genesys intends to fund the transaction through a combination of existing cash on hand and debt financing. The transaction is not contingent upon financing, with committed debt financing being provided by Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs and RBC Capital Markets.<\/span><\/p>\n

Advisors<\/b><\/span><\/p>\n

BofA Merrill Lynch, Citi, Goldman Sachs and RBC Capital Markets are serving as financial advisors to Genesys, and Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal advisor. Union Square Advisors LLC is serving as exclusive financial advisor to Interactive Intelligence, and Faegre Baker Daniels LLP is serving as legal advisor.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Genesys (www.genesys.com), a market provider\u00a0of omnichannel customer experience and\u00a0contact centre solutions, and Interactive Intelligence Group (www.inin.com), a provider\u00a0of cloud and on-premise solutions for customer engagement, communications and collaboration, have\u00a0announced that they have entered into a definitive agreement under which Genesys will acquire Interactive Intelligence in a transaction valued at approximately $1.4 billion. Under the terms […]<\/p>\n","protected":false},"author":20,"featured_media":11075,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[331,809],"tags":[22,2751,91],"class_list":["post-11071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cloud","category-more-news","tag-cloud","tag-genesys","tag-interactive-intelligence"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/11071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/comments?post=11071"}],"version-history":[{"count":0,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/11071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media\/11075"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media?parent=11071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/categories?post=11071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/tags?post=11071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}