Telephony software manufacturer Genesys Telecommunications Laboratories Inc. agreed to acquire SoundBite Communications Inc. (Nasdaq: SDBT) for $100.4 million, or $5.00 per share.
SoundBite's shares jumped 52 percent from $2.18 to $4.55 after hours, with the price tag representing a 67 percent premium to what Soundbite traded at prior to the deal announcement. The Bedford, Mass.-based target delivers cloud-based collections, payments and mobile marketing services to various enterprises. Genesys makes software that integrates Internet, phones, computers and databases for customer-contact centers.
The deal is expected to grow Genesys’ cloud user base by 450 clients and bring in about $50 million in revenue to the Daly City, Calif.-based acquirer.
The transaction, which has been unanimously approved by the boards of both companies, is slated to close by the third quarter of 2013.
SoundBite tapped Arma Partners LP to run the sale process. K&L Gates LLP and Fried Frank Harris Shriver & Jacobson LLP are handling legal matters for SoundBite and Genesys, respectively.
The legal team from Fried Frank was led by corporate partners Robert Schwenkel and Brian Mangino.
In February, Genesys agreed to buy Utopy Inc., a San Francisco developer of speech analytics software for call centers and government agencies, for an undisclosed price. It followed up with the $110 million acquisition of Angel.com Inc. in March. Genesys purchased the Vienna-based provider of web-based interactive voice response service from MicroStrategy Inc.