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CONVERGYS CORPORATION: Convergys Closes Acquisition of Intervoice,
Enhancing its Leadership in Relationship Management
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:04092008
Cincinnati and Dallas -- Convergys Corporation (NYSE: CVG), a global
leader in relationship management, announces the successful closing of
its acquisition of Intervoice, Inc., for $335 million in cash or $8.25
per share.
Both companies are recognized leaders in their respective domains.
This combination provides clients with a suite of solutions, from a
single source, that enhances customer and employee interactions and
simplifies operations. With Intervoice, Convergys is extending its
leadership position in relationship management adding additional
strengths in the software-based interactive voice response, contact
center, and mobile messaging technology and applications markets. This
strong leadership position is supported by combining the innovative
technology and large, global client base of both companies.
"This acquisition is about investing to address the current and future
needs of our clients. Convergys is committed to delivering, and in
fact enhancing, Intervoice's product roadmap," said Dave Dougherty,
president and CEO of Convergys. "Together, we will ensure that all
Intervoice and Convergys clients and partners have access to
industry-leading technology, professional services, and support
solutions that enhance relationship management across all touch points."
Convergys is already addressing strategic methods of bringing the two
companies together in a way that best serves all clients, ensuring they
receive the superior levels of service they have come to expect from
both companies.
Here are the strategic and financial benefits of the acquisition:
-- Comprehensive product and services offering - By integrating
Intervoice's complementary speech automation, Web self-service, and
mobile applications, Convergys will offer a comprehensive array of
automated and live agent services coming from a single source.
-- Expanded client base and growth opportunities in global market -
Intervoice currently serves thousands of enterprises and network
service providers across multiple industries. Cross-selling
opportunities will accelerate Convergys revenue growth in 2009 and
beyond.
-- Predictable revenue with attractive contribution margins -
Intervoice revenues for its fiscal year ended February 28, 2008, were
approximately $202 million. Slightly more than fifty percent of these
revenues are maintenance and hosted services revenues that are
predictable and recurring. These revenues should generate attractive
margin contributions.
Intervoice has US locations in Dallas, Orlando, and Mountain View,
California, as well as in China, Brazil, the UAE, South Africa,
Singapore, Germany, the Netherlands, Ireland, and the UK. Intervoice
has served more than 5,000 customers in 80 countries during its 25-year
history.
About Convergys
Convergys Corporation (NYSE: CVG) is a global leader in relationship
management. We provide solutions that drive more value from the
relationships our clients have with their customers and employees.
Convergys turns these everyday interactions into a source of profit
and strategic advantage for our clients.
For 25 years, our unique combination of domain expertise, operational
excellence, and innovative technologies has delivered process
improvement and actionable business insight to clients that now span
more than 70 countries and 35 languages.
Convergys is a member of the S&P 500 and has been voted a Fortune Most
Admired Company for eight consecutive years. We have approximately
75,000 employees in 85 customer contact centers and other facilities in
the United States, Canada, Latin America, Europe, the Middle East, and
Asia, and our global headquarters in Cincinnati, Ohio. For more
information, visit www.convergys.com
(Convergys, Intervoice, and the Convergys logo are registered
trademarks of Convergys Corporation.)
CONTACT: David Stein, Investor Contact, Convergys Corporation
Tel: +1 513 723 7768
e-mail: investor@convergys.com
John Pratt, Media Contact, Convergys Corporation
Tel: +1 513 723 3333
e-mail: john.pratt@convergys.com
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Copyright ? 2008 M2 Communications Ltd.
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