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Intervoice increases its share in the voice automation market with the acquisition of Edify for $33.5M in cash
November 18, 2005
DALLAS and ATLANTA -- Intervoice, Inc. (NASDAQ: INTV - News), a world leader in converged voice and data solutions, today signed an agreement to purchase Edify Corporation, a leading global supplier of interactive voice response solutions, from S1 Corporation (NASDAQ: SONE - News), Edify's parent company. Upon closing, Intervoice will pay S1 $33.5 million in cash to acquire Edify. The acquisition will strengthen Intervoice's position in the voice automation market. Additionally, the added revenues and resources will enable Intervoice to accelerate the development and delivery of multi-channel, automated information solutions for both its enterprise and network customers.
According to the latest research from independent market analyst Datamonitor, the merger will strengthen Intervoice's number two position in the voice self-service market. Additionally, in the latest Gartner Magic Quadrant for IVR Systems and Enterprise Voice Portals (June 2005), Intervoice and Edify were both placed in the Leaders quadrant. The combination of Intervoice and Edify will place Intervoice at the forefront of the industry, with substantial resources to accelerate the delivery of speech solutions across multi-channel (i.e., voice, data, and video) portals.
"The joining of Intervoice and Edify will bring unmatched expertise in providing customers with award-winning, standards-based automated information solutions," said Bob Ritchey, President and CEO of Intervoice. "Each company has achieved market success and profitability. We are both highly respected in this industry, making this a very positive combination for our joint customers and partners. We intend to accelerate the delivery of multi-channel solutions that measurably enhance customer satisfaction, creating customers for life."
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