NICE has entered a definitive agreement to acquire inContact, a cloud contact center company.
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The two companies are joining forces to provide the industry’s first fully integrated and complete cloud contact center solution suite.
Barak Eilam, CEO, NICE, said: "Today, we are embarking on the most transformative move within our industry in decades, for both NICE and the customer service market
"Together, inContact and NICE are making history by re-inventing customer service as we know it, combining our best-in-class contact center applications and analytics with cloud contact center.
"This unprecedented integration is at the core of our vision for the transformation of the legacy contact center into the new era of the Experience Center. I am excited about this landmark acquisition and about NICE’s unique leadership position in writing the next chapter in customer service."
Paul Jarman, CEO, inContact, who will continue to lead inContact as it becomes part of NICE, said: "We are looking forward to the unique opportunities that our two companies can bring to the market. Together with NICE, we will accelerate the move to contact center in the cloud for organizations of any size.
"Our current customers will be able to enjoy the benefits of the most complete suite of contact center applications, and we will continue to work closely with our large partner network and outstanding dedicated employees to enable this re-invention of customer service."
Under the terms of the agreement, NICE will acquire inContact for $14 per share in cash.
The transaction values inContact at approximately $940 million, including repayment of inContact’s outstanding convertible debt and excluding inContact cash on hand. NICE plans to finance the acquisition with cash on hand as well as debt of up to $475 million.
Subject to satisfaction of customary closing conditions, including receipt of regulatory approvals as well as inContact shareholders’ approval, the transaction is expected to close before the end of 2016.
The company expects the acquisition be accretive to earnings on a non GAAP basis in 2017. ■