Genesys buys rival software firm Interactive Intelligence for $1.4 billion
Call center software maker Genesys Telecommunications is buying rival firm Interactive Intelligence Group for roughly $1.4 billion.
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Based in Indianapolis, Ind., Interactive Intelligence Group also sells cloud-based software for call centers, but with a strong focus customer experience. The company went public in 1999 and counts Coca-Cola and Sony among its customers.
Genesys wants to use Interactive Intelligence Group's software, particularly its PureCloud product, to broaden its own portfolio amid a shifting communications landscape.
"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," said Paul Segre, Genesys CEO, in a statement.
Genesys was founded in 1990, and according to its website, developed one of first highly scalable products for computer telephony integration.
In 2012, Genesys was sold by telecom giant Alcatel-Lucent to European private equity firm Permira Funds. Today it operates as a standalone company with estimated revenue of more than $1.3 billion. Its customers include PayPal and RedHat.
Genesys says the transaction is expected to close by the end of the year.