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Intervoice agreed to acquire Edify from its parent company, S1 Corporation, for $33.5 million in cash, creating a combined company that stands to challenge industry leader Genesys Telecommunications Laboratories, an Alcatel company.
As a combined company, Intervoice and Edify would have revenue in excess of $200 million over the last four fiscal quarters and more than 850 employees around the world. Together, Intervoice and Edify have deployed more than 1.5 million ports handling millions of mission critical calls daily for more than 5000 customers worldwide, the companies said in a press statement.
“Each company has achieved market success and profitability. We are both highly respected in this industry, making this a very positive combination for our joint customers and partners. We intend to accelerate the delivery of multi-channel solutions that measurably enhance customer satisfaction, creating customers for life,” said Bob Ritchey, President and CEO of Intervoice.
Ritchey will continue in his current capacity; however, Edify President and CEO Mitch Mandich will only stay with the company through a transition period as an advisor. The merger is expected to close in December 2005, subject to normal and customary closing conditions.
The merger unifies Omvia Voice Framework with Edify’s Voice Interaction Platform. In the latest Gartner Magic Quadrant for IVR Systems and Enterprise Voice Portals (June 2005), Intervoice and Edify were both placed in the Leaders quadrant.
“This merger will mark a turning point in the speech industry,” said Mitch Mandich, CEO of Edify. “Two financially compelling market leaders are coming together to create an even stronger company that will benefit from its enhanced capabilities to deliver speech solutions to a growing market.”
S1 said it will continue to resell Edify’s voice products as part of its banking channel offering.
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Robert Liu is Executive Editor at TMCnet. Previously, he was Executive Editor at Jupitermedia and has also written for CNN, A&E, Dow Jones and Bloomberg. For more articles, please visit Robert Liu's columnist page. |
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