Genesys, a provider of customer engagement and contact center services, has announced plans to acquire SoundBite Communications for a price of $5.00 per share.
The deal will be accomplished pursuant to a cash tender offer followed by a second step merger. The $5.00 per share cash offer price represents a total equity value of SoundBite of approximately $100.4 million. The closing of the transaction is expected to occur early in the third quarter.
"This transaction provides our stockholders with a significant premium for their shares and presents SoundBite with an exciting new endeavor that makes tremendous sense for the market," said Jim Milton, president and CEO of SoundBite. "We believe existing SoundBite customers will value the benefits of being part of the global Genesys community made up of the world’s leading innovators in customer experience."
The acquisition will build Genesys' cloud-solutions portfolio, adding to its recent acquisition of Angel for self-service and contact center services, according to a company news release. Cloud-based sales, marketing and customer service help firms by offering applications that can be "deployed quickly by business users. Those users can be located in departments across the enterprise including marketing, accounts receivable, collections and contact centers," the release continued.
"Cloud solutions that quickly solve business challenges are in high demand, and offering these solutions is core to our mission," said Paul Segre, president and CEO of Genesys. "The acquisition of SoundBite will expand our portfolio to help our customers meet these challenges, and continues our rapid expansion into cloud solutions in both new and existing markets."
• The acquisition is expected to contribute $50 million in cloud-based revenue to Genesys, bringing the total to more than $135 million for Genesys’ growing cloud business. The acquisition will bring Genesys additional expertise in developing, marketing and selling cloud-based customer engagement services and adds approximately 450 new end-customers to its existing base of 800 Genesys cloud customers. Combined with Genesys’ current cloud business, SoundBite will extend Genesys’ position in cloud solutions for marketing, sales, and customer service.
• With the addition of SoundBite’s market-leading applications, Genesys will strengthen its portfolio of cloud-based services for marketing, sales and collections departments.
• The SoundBite applications complement the Genesys cloud-based customer engagement services with additional mobile capabilities, including self-service text messaging and mobile-marketing capabilities, including mobile coupons, in-store marketing, mobile web sites and on-package QR codes.