Intervoice to Be Sold to Convergys for $335 Million
July 16, 2008
The Boards of Directors of Convergys Corporation and Intervoice, Inc. today approved a definitive merger agreement under which Convergys will acquire Intervoice for $335 million in cash or $8.25 per share.
Intervoice software and professional services enable voice portal, IP contact center, hosted and mobile messaging, and self-service applications, according to the company.
A relationship management company, Convergys says that by integrating Intervoice’s complementary speech automation, Web self-care and mobile applications, it will be able to offer a comprehensive array of automated and live agent services, company officials say.
Also, Intervoice’s extensive global channel and technology partnerships and sales presence provide Convergys with a number of cross-selling opportunities, enabling the company to penetrate current markets and access new markets and geographies, according to the company.
These cross-selling opportunities as well as the new bundled product offerings are expected to “accelerate Convergys revenue growth in 2009 and beyond,” according to Convergys officials.
“Separately, these companies have been strong strategic partners delivering products that have created opportunities for customers like us,” said Robert Strickland, senior vice president and chief information officer at T-Mobile USA. “If they come together, we look forward to seeing them continue to build on their ability to bring solutions to the market that place customer relationships at the center.”
Dave Dougherty, president and chief executive officer at Convergys, said that this acquisition is part of Convergys plan to be the market leader in Relationship Management solutions, adding that the company believes acquiring Intervoice allows it to compete effectively as a single-source provider and enables it to grow its revenues and earnings.
“We’re very excited about this transaction and the value we expect it to create for our clients and shareholders, as well as the opportunities we expect it to create for Convergys and Intervoice employees,” Dougherty said.
“While Intervoice has performed well independently for 25 years, this transaction should create significant value for our shareholders, new opportunities for our employees, and enhanced ways to drive our customers’ success,” said Robert Ritchey, chief executive officer at Intervoice.
Anshu Shrivastava is a contributing editor for ContactCenterSolutions. To read more of Anshu’s articles, please visit her columnist page.
