Convergys Closes
Acquisition of Intervoice
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
24-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
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