Why Cloud CCaaS Company LiveVox's Shares Are Gaining Today?

AI-driven proactive outreach provider LiveVox Holdings, Inc's LVOX shares are up Wednesday morning as it agreed to be acquired by NICE Ltd NICE for $3.74 per share in cash.

The deal price represents a premium of 12% over LVOX's last closing price.

Under the deal, NICE's CXone platform joins LiveVox's proactive outreach portfolio to offer organizations a unified platform for deploying conversational AI across various customer engagements. 

NICE expects the transaction to be cash flow positive and accretive to operating income, operating margin and non-GAAP EPS during 2024. The transaction will not impact NICE's share buyback program.

The transaction is expected to close in the first half of 2024, subject to regulatory clearances and other customary closing conditions. 

As of June 30, 2023, NICE had total cash and cash equivalents and short-term investments of $1.662 billion. The company's debt, net of a hedge instrument, was $543.1 million.

"The era of Digital Engagement is already here and we are excited to enable organizations to propel their Digital Engagement and Conversational AI forward. In joining forces with LiveVox we now have the strongest and broadest proactive outreach portfolio," said Barak Eilam, CEO of NICE.

Upon completion of the transaction, LiveVox will no longer be publicly listed or traded on Nasdaq.

Price Action: LVOX shares are trading higher by 8.083% to $3.61 on the last check Wednesday, while NICE shares are trading lower by 0.57% to $167.76.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.