Israeli software firm Nice Systems to buy US-based in Contact for $940 mn
19 May 2016
Israeli software company Nice Systems yesterday struck a deal to buy US-based cloud software maker for call centers inContact, for about $940 million.
Nice is offering to pay Nasdaq-listed inContact $14 per share in cash, a 55 per cent premium to 17 May closing price.
Nice said that it would finance the deal with cash in hand as well as financing of up to $475 million provided by JPMorgan Chase Bank and Royal Bank of Canada.
nContact is the cloud contact center software maker and offers a complete solution that includes the technology – customer interaction platform as a service – as well as an expert service model and the broadest partner ecosystem.
Recognised as a market leader by Gartner, Frost, Ovum, IDC and DMG, inContact supports over 6 billion interactions per year for enterprise, midmarket, government organisations and business process outsourcers (BPOs) who operate in multiple divisions, locations and global regions.
"We strongly believe that this transaction best positions the company to execute on our vision of helping our customers deliver exceptional customer experiences, while rewarding our existing stockholders for the work we have achieved to date," said Paul Jarman, CEO of inContact.
Nice said that the acquisition marks the first time that a single vendor offers both contact center cloud applications and an open cloud platform as well as the full range of Workforce Optimization applications and Analytics, providing a seamless integrated environment.
"We worked hard to make this deal happen because we understand the tremendous value that inContact can bring to its customers and the marketplace. This combination creates the deepest and most talented R&D, services and support organization in our industry, allowing us to accelerate our roadmaps and deliver even greater value to our customers," said, Barak Eilam, CEO of Nice.