Wednesday, July 16, 2008

Intervoice Acquired By Convergys

Convergys Corp., a provider of phone-based customer service solutions, announced Wednesday that it has agreed to acquire Intervoice Inc. for $335 million in cash. Headquartered in Dallas, Intervoice publishes interactive software for the voice response, contact center and mobile-messaging markets. Convergys said the purchase price equates to $8.25 per share, a 24 percent premium above Intervoice's closing stock price for Tuesday, the last trading day prior to the announcement of the definitive merger agreement. The transaction, Convergys said, is subject to customary closing conditions and regulatory approvals as well as the valid tender of two-thirds the outstanding shares of Intervoice common stock. Convergys added that it expects the transaction to close later this quarter. Convergys is headquartered in Cincinnati, Ohio.