Siemens Enterprise Communication, which is 51-per cent owned by private equity firm Gores Group was also in the race for Genesys. Siemens Enterprise and Gores had acquired enterprise switch maker Enterasys in 2008.

The Permira-Genesys deal was rumoured to have taken a back seat last month due to suspected funding issues. There were worries also as to how to turnaround a business that is facing stiff competition from rivals such as Sweden's Ericsson and China's Huawei Technologies.

Genesys began as a computer telephony integration supplier in 1990. Over the years, it has expanded its portfolio to provide a comprehensive customer service software suite to route interactions across all channels – inbound and outbound, self and assisted service, voice and eservices.