Interactive Intelligence Group Inc. ININ, a global provider of
software and services designed to improve the customer experience, has entered
into a letter of intent to acquire OrgSpan Inc., a privately held company that
offers cloud-based enterprise social communications solutions.
Subject to the negotiation of definitive documentation approval by the
Interactive Intelligence audit committee and board, and the satisfaction of
customary conditions, the companies expect to close the transaction within 30
days.
“OrgSpan develops socially relevant communications products that our customers
have found valuable and unique,” said Bill Gildea, Interactive Intelligence
senior vice president of corporate development. “These social customer service
components, together with the core cloud architecture that OrgSpan has
developed, are important to the foundation of our cloud offerings moving
forward.
“Additionally, this acquisition will streamline our development efforts and
give us the benefit of OrgSpan's numerous patent filings and access to its
customer and prospect base,” concluded Gildea.
Among its solutions, OrgSpan offers OrgSpan Select, which enables customers to
search and view agent social profiles by multiple criteria, creating new and
more effective ways of connecting customers and contact center agents. The
company also offers OrgSpan Connect, a unified company directory of OrgSpan
Connect users that includes information-rich personal profiles designed to
improve employee collaboration.
Interactive Intelligence plans to continue to sell and support OrgSpan Select
and OrgSpan Connect, both on a standalone basis and as add-on applications to
its cloud and on-premises IP business communications solutions. Interactive
Intelligence will also incorporate these products into its future cloud
offerings.
OrgSpan customers will continue to use the same sales, support and service
channels until further notice.
“We want our customers to know that they will continue to get the same
high-quality service and support they've come to expect,” said Jeff Swartz,
co-founder and president of OrgSpan. “In fact, we anticipate even greater
responsiveness with the additional resources this acquisition provides, plus
our customers will get easier access to Interactive's broad range of contact
center, unified communications, and business process automation solutions.”
Interactive Intelligence plans to integrate OrgSpan employees into its
organization across multiple department lines. OrgSpan employees will remain
at their current location in Durham, North Carolina. Interactive Intelligence
expects all integration activities to be completed this calendar year and does
not expect the transaction to have a material impact on revenues and other
financial results in 2014.
As previously disclosed, the independent audit committee of Interactive
Intelligence has been re-assessing for some time the relationship between
Interactive Intelligence and OrgSpan, which is majority-owned by Dr. Donald E.
Brown, Interactive Intelligence founder and CEO. The audit committee has been
assisted by its own independent valuation consultant and its own independent
counsel. The audit committee has negotiated the letter of intent on behalf of
Interactive Intelligence, and the committee's approval of a transaction will
be subject to receipt of a satisfactory fairness opinion from the committee's
independent valuation consultant.
The company will provide additional information when the definitive agreement
is completed and approved by all parties.
About OrgSpan
OrgSpan Inc. was founded in 2011 by Jeff Swartz, who previously was an
Interactive Intelligence developer. The company develops cloud-based
enterprise social communications solutions. Its solutions include OrgSpan
Select, which enables customers to search and view agent social profiles by
skill-set, years of experience, wait time, etc.; and OrgSpan Connect, a
unified company directory of OrgSpan Connect users that includes personal
profiles containing details such as skills, certifications, location,
reporting structure, etc. The company also offers OrgSpan Connect CIC, a
unified company directory of OrgSpan Connect users, and users of the
Interactive Intelligence IP communications software suite, Customer
Interaction Center^™ (CIC). OrgSpan employs 40 people and is headquartered in
Durham, North Carolina. It can be reached at +1 855.674.7726, or on the Web at
http://www.orgspan.com/.
About Interactive Intelligence
Interactive Intelligence Group Inc. ININ is a global provider of
software and services designed to improve the customer experience. The
company's 6,000-plus customers worldwide have benefitted from its cloud and
on-premises solutions for contact center, unified communications, and business
process automation. Interactive Intelligence is among Software Magazine's 2013
Top 500 Global Software and Service Providers, and has received a Frost &
Sullivan Company of the Year Award for the last five consecutive years. In
addition, Glassdoor honored Interactive Intelligence with its 2014 Employees'
Choice Award as one of the Best Places to Work in the U.S., and Mashable
ranked Interactive Intelligence second on its 2014 list of the Seven Best Tech
Companies to Work For. The company was founded in 1994 and employs more than
1,800 people worldwide. Interactive Intelligence is headquartered in
Indianapolis, Indiana and has offices throughout North America, Latin America,
Europe, Middle East, Africa and Asia Pacific. It can be reached at +1
317.872.3000 or info@inin.com. Visit Interactive Intelligence on the Web at
www.inin.com; on Twitter at www.inin.com/twitter; on Facebook at
www.inin.com/facebook; or on LinkedIn at www.inin.com/linkedin.
This release contains certain "forward-looking" statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements that are predictive in
nature, that depend on or relate to future events or conditions, or that
include words such as “expects”, “anticipates”, “believes”, “intend”, “plan”,
“may”, “should”, “will”, “would”, “will be”, “will continue”, “will likely
result” and other similar expressions are forward-looking statements.
Forward-looking statements involve known and unknown risks and uncertainties
that may cause Interactive Intelligence's actual results to differ materially
from those predicted in the forward-looking statements as a result of, but not
limited to, the following factors: uncertainty regarding the closing of the
proposed acquisition of OrgSpan; the possibility that the anticipated benefits
from the proposed acquisition cannot be fully realized or may take longer to
realize than expected; the possibility that costs or difficulties related to
the integration of Interactive Intelligence's and OrgSpan's operations will be
greater than expected; operating costs and business disruption may be greater
than expected; the ability of OrgSpan to retain key personnel and maintain
relationships with its customers and other business partners pending the
consummation of the acquisition; and other risk factors relating to
Interactive Intelligence's business, as described in its reports filed with
the Securities and Exchange Commission, including the company's latest Annual
Report on Form 10-K. There can be no assurance that the proposed acquisition
will, in fact, be consummated.
The forward-looking statements contained herein speak only as of the date of
this release. Interactive Intelligence does not undertake any obligation to
update or revise any forward-looking statements for any reason, even if new
information becomes available or other events occur in the future, except as
may be required by law.
Interactive Intelligence is the owner of the marks INTERACTIVE INTELLIGENCE,
its associated LOGO and numerous other marks. All other trademarks mentioned
in this document are the property of their respective owners.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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