Mergers and Acquistions News
Categories: IT Services & Consulting
September 8th 2008, 11:14AM
Relationship management company Convergys Corporation has completed its takeover of Intervoice.
The New York Stock Exchange registered company paid $335 million (£190 million) in cash for the voice response software firm, which equates to $8.25 a share.
According to the firm, the acquisition will boost revenue because of the possibility of cross-selling, as well as adding earnings from Intervoice's products, which yielded approximately $202 million in the last fiscal year.
Dave Dougherty, Convergys' chief executive, remarked: "This acquisition is about investing to address the current and future needs of our clients."
He added: "Convergys is committed to delivering - and in fact enhancing - Intervoice's product roadmap."
Convergys is based in 85 different locations around the globe and employs more than 75,000 people.
It has been a Fortune Most Admired Company for the last eight years and hopes the acquisition will keep it at the forefront of the relationship management market.
The firm announced last week that it was considering making its information management business into a separate corporate entity.
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