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Interactive Intelligence Strengthens Debt Collection Focus with Latitude Software Purchase

October 05, 2010

Interactive Intelligence has announced the acquisition of Global Software Services Inc., a company doing business as Latitude Software. The global provider of unified IP business communications solutions purchased 100 percent of Latitude’s stock.



The purchase price was roughly $14 million for the privately-held provider of debt collection software and services. The transaction was cash funded from Interactive Intelligence's cash-on-hand.

Interactive Intelligence is taking part in this week’s ITEXPO. Chief Marketing Officer, Joe Staples provided the keynote presentation at SocialCRM EXPO, which is collocated this week with ITEXPO in Los Angeles.

Latitude recorded revenue of approximately $7.8 million on a trailing twelve month basis ending Sept. 30, 2010. This figure represents an increase of 46 percent over its revenues during the prior twelve month period. Latitude has no outstanding debt.

"The acquisition of Latitude reflects one of our ongoing growth strategies of using our strong cash position to add industry-specific applications and expertise -- a strategy we kicked off last year with our acquisition of insurance content management provider, AcroSoft," said Interactive Intelligence founder and CEO, Donald E. Brown, in a statement.

"Latitude founder and president, Carl Harkleroad and his team have created a well-architected and scalable software suite that's delivered on-premise or via the cloud," continued Brown.

"Latitude's offering backed by 13 years of industry experience will augment our growing presence in the debt collection vertical, where we continue to see increased demand for our all-in-one IP communications software suite and sophisticated outbound dialing functionality."

Harkleroad noted that Latitude has seen rapid growth for its 200+ customer base, which includes Fortune 500 companies ranging from credit card services and auto financing firms, to one of the nation’s largest cable services providers.

In joining Interactive Intelligence, Latitude can accelerate this growth, while also offering customers new products and services for contact center automation, enterprise IP telephony, and business process automation.

Latitude Software will be offered by Interactive Intelligence as a standalone solution and will include integration with its Interaction Dialer and other third-party dialer products.

Latitude will operate as a subsidiary of Interactive Intelligence and it will maintain its current headquarters in Jacksonville, Florida, where team members will deliver 24x7 customer support and enhanced products. In July, Interactive Intelligence announced it was listed at the 16th spot out of 42 companies listed within the Indiana Chamber of Commerce's 'large companies' category. The company was also given the recognition of "best place to work,' for the fourth consecutive year.

ContactCenterSolutions reported last month that Interactive Intelligence developed the Interaction Process Automation (IPA) to provide a unified platform for tracking of work, people and resources in order to allow business processes to be automated more comprehensively.


Susan J. Campbell is a contributing editor for ContactCenterSolutions and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.

Edited by Stefania Viscusi

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