Tuesday, July 15, 2008

Convergys to Acquire Intervoice for $335 Million

Convergys agreed to acquire Intervoice, Inc. (NASDAQ: INTV) Intervoice for $335 million in cash or $8.25 per share, representing a premium of 24 percent to Intervoice's closing stock price on July 15.

Intervoice supplies software and professional services that enable voice portal, IP contact center, hosted and mobile messaging, and self-service applications. The company claims more than 5,000 customers in 80 countries, including financial and healthcare institutions, telecommunications companies, utilities, and governments.

Convergys plans to integrate Intervoice's complementary speech automation, Web self-care, and mobile applications. This will enable Convergys to offer an array of automated and live agent services.

Intervoice revenues for its fiscal year ended February 28, 2008, were $202.4 million. More than fifty percent of these revenues are maintenance and hosted services revenues that are predictable and recurring.http://www.convergys.comhttp://www.intervoice.com

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