SALT LAKE CITY, May 18, 2016 /PRNewswire/ -- inContact, Inc.
(NASDAQ: SAAS), the leading provider of cloud contact center
software and contact center optimization tools, today announced
that it has entered into a definitive agreement to be acquired by
NICE, the worldwide leading provider of software solutions that
enable organizations to take the next best action in order to
improve customer experience and business results, ensure
compliance, fight financial crime, and safeguard people and assets.
Under the terms of the agreement, inContact stockholders will
receive $14.00 per share in cash. The
per share purchase price represents a 55% premium to the closing
price on May 17, 2016, the last
trading day prior to the announcement of the transaction, and a 49%
premium to the 30 day volume weighted average price.
![inContact is the cloud contact center software leader, with the most complete, easiest and most reliable solution to help organizations achieve their customer experience goals. inContact continuously innovates in the cloud and is the only provider to offer a complete solution that includes the customer interaction cloud, an expert service model and the broadest partner ecosystem. Recognized as a market leader by Gartner, IDC, Frost & Sullivan, Ovum and DMG, inContact supports over 6 billion interactions per year for enterprise, midmarket, government organizations and business process outsourcers (BPOs) who operate in multiple divisions, locations and global regions. inContact is the cloud contact center software leader, with the most complete, easiest and most reliable solution to help organizations achieve their customer experience goals. inContact continuously innovates in the cloud and is the only provider to offer a complete solution that includes the customer interaction cloud, an expert service model and the broadest partner ecosystem. Recognized as a market leader by Gartner, IDC, Frost & Sullivan, Ovum and DMG, inContact supports over 6 billion interactions per year for enterprise, midmarket, government organizations and business process outsourcers (BPOs) who operate in multiple divisions, locations and global regions.](http://photos.prnewswire.com/prnvar/20120216/LA54560LOGO)
"We strongly believe that this transaction best positions the
Company to execute on our vision of helping our customers deliver
exceptional customer experiences, while rewarding our existing
stockholders for the work we have achieved to date," said
Paul Jarman, CEO of inContact. "We
are excited to work with our new business partners at NICE and
enter our next chapter of industry leadership."
This acquisition ushers in a new era in customer service, where
two leading companies are joining forces to provide the industry's
first fully integrated cloud contact center solution suite.
Organizations of all sizes can now take their contact center into
the new era of the Experience Center. The unprecedented combination
of NICE's world-class Workforce Optimization and Analytics
solutions with inContact's advanced contact center cloud offerings
allows organizations to take advantage of best-in-class customer
service applications as they transition to the cloud.
Moreover, the acquisition marks the first time that a single
vendor offers both contact center cloud applications and an open
cloud platform as well as the full range of Workforce Optimization
applications and Analytics, providing a seamless integrated
environment. This combination of contact center applications and
infrastructure under one company also enables the transformation of
the contact center to the Experience Center. The Experience Center
connects customer, employee and omni-channel, using advanced
analytics to drive personalization and smart action in real time,
to stay ahead of the curve of changing customer preferences.
"We look forward to working with the talented management team
and employees to accelerate inContact's customer relationships and
strengthen its market position in cloud contact center software,"
said Barak Eilam, CEO of NICE.
"We worked hard to make this deal happen because we
understand the tremendous value that inContact can bring to its
customers and the marketplace. This combination creates the deepest
and most talented R&D, services and support organization in our
industry, allowing us to accelerate our roadmaps and deliver even
greater value to our customers."
The Board of Directors of inContact has unanimously approved the
transaction. The transaction is expected to close in the second
half of 2016, subject to inContact stockholder approval, certain
regulatory approvals and other customary closing conditions. The
transaction will be funded from NICE's cash on hand and committed
debt financing provided by JPMorgan Chase Bank and Royal Bank of
Canada.
Jefferies LLC is serving as exclusive financial advisor, and
Pillsbury Winthrop Shaw Pittman LLP and Parsons Behle & Latimer
are serving as legal advisors, to inContact.
About inContact
inContact (NASDAQ: SAAS) is the cloud contact center software
leader, with the most complete, easiest and most reliable solution
to help organizations around the globe to achieve their customer
experience goals. inContact continuously innovates in the cloud and
is the only provider to offer a complete solution that includes the
technology – customer interaction platform as a service – as well
as an expert service model and the broadest partner ecosystem.
Recognized as a market leader by Gartner, Frost, Ovum, IDC and DMG,
inContact supports over 6 billion interactions per year for
enterprise, midmarket, government organizations and business
process outsourcers (BPOs) who operate in multiple divisions,
locations and global regions. To learn more, visit
www.incontact.com.
About NICE
NICE Systems (NASDAQ: NICE) is the worldwide leading provider of
software solutions that enable organizations to take the next best
action in order to improve customer experience and business
results, ensure compliance, fight financial crime, and safeguard
people and assets. NICE's solutions empower organizations to
capture, analyze, and apply, in real time, insights from both
structured and unstructured Big Data. This data comes from multiple
sources, including phone calls, mobile apps, emails, chat, social
media, video, and transactions. NICE solutions are used by over
25,000 organizations in more than 150 countries, including over 80
of the Fortune 100 companies. www.nice.com.
Trademark Note: NICE and the NICE logo are
trademarks or registered trademarks of NICE Systems. All other
marks are trademarks of their respective owners. For a full list of
NICE Systems' marks, please
see: http://www.nice.com/nice-trademarks.
Additional Information and Where to Find It
In connection with the transaction, inContact intends to file
relevant materials with the Securities and Exchange Commission (the
"SEC"), including a preliminary proxy statement on Schedule 14A.
Promptly after filing its definitive proxy statement with the SEC,
inContact will mail the definitive proxy statement and a proxy card
to each stockholder entitled to vote at the special meeting
relating to the transaction. INVESTORS AND SECURITY HOLDERS OF
inContact ARE URGED TO READ THESE MATERIALS (INCLUDING ANY
AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS
IN CONNECTION WITH THE TRANSACTION THAT inContact WILL FILE WITH
THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT inContact AND THE TRANSACTION. The
proxy statement and other relevant materials in connection with the
transaction (when they become available), and any other documents
filed by the Company with the SEC, may be obtained free of charge
at the SEC's website (http://www.sec.gov) or at inContact's website
(http://www.inContact.com) or by writing to inContact's Corporate
Secretary at 75 West Towne Ridge Parkway, Tower 1, Salt Lake City, UT 84070.
Participants in the Solicitation
inContact and its directors and executive officers may be deemed
to be participants in the solicitation of proxies from inContact's
stockholders with respect to the transaction. Information about
inContact's directors and executive officers and their ownership of
inContact Common Stock is set forth in inContact's proxy statement
on Schedule 14A filed with the SEC on April
27, 2016, and inContact's Annual Report on Form 10-K for the
fiscal year ended December 31, 2015,
which was filed with the SEC on March 4,
2016. Information regarding the identity of the potential
participants, and their direct or indirect interests in the
transaction, by security holdings or otherwise, which may be
different than those of inContact's stockholders generally, will be
set forth in the proxy statement and other materials to be filed
with SEC in connection with the transaction.
Legal Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Statements about the expected timing, completion and effects of
the proposed transaction and all other statements in this report
and the exhibits furnished or filed herewith, other than historical
facts, constitute forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Readers are cautioned not to place undue
reliance on these forward-looking statements and any such
forward-looking statements are qualified in their entirety by
reference to the following cautionary statements. All
forward-looking statements speak only as of the date hereof and are
based on current expectations and involve a number of assumptions,
risks and uncertainties that could cause the actual results to
differ materially from such forward-looking statements. inContact
may not be able to complete the proposed transaction on the terms
described herein or other acceptable terms or at all because of a
number of factors, including without limitation (1) the occurrence
of any event, change or other circumstances that could give rise to
the termination of the Merger Agreement, (2) the failure to obtain
the requisite approval of inContact's stockholders or the failure
to satisfy the other closing conditions, (3) risks related to
disruption of management's attention from inContact's ongoing
business operations due to the pending transaction and (4) the
effect of the announcement of the pending transaction on the
ability of inContact to retain and hire key personnel, maintain
relationships with its customers and suppliers, and maintain its
operating results and business generally.
Actual results may differ materially from those indicated by
such forward-looking statements. In addition, the forward-looking
statements represent inContact's views as of the date on which such
statements were made. inContact anticipates that subsequent events
and developments may cause its views to change. However, although
inContact may elect to update these forward-looking statements at
some point in the future, it specifically disclaims any obligation
to do so. These forward-looking statements should not be relied
upon as representing inContact's views as of any date subsequent to
the date hereof. Further information on potential factors that
could affect inContact's business and financial results is included
in inContact's annual report on Form 10-K for the year ended
December 31, 2015 and its quarterly
report on Form 10-Q for the quarterly period ended March 31, 2016, and in other filings inContact
has made with the Securities and Exchange Commission.
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SOURCE inContact, Inc.