inContact Acquires Workforce Optimization Provider Uptivity
Strategic Combination Brings Exciting Cloud Innovation to the Workforce Optimization Market
SALT LAKE CITY, May 6, 2014 -- inContact, the leading provider of cloud contact center software and contact center agent optimization tools, today announced the acquisition of workforce optimization (WFO) provider, CallCopy, Inc., which offers its products and services under the name "Uptivity." Based in Columbus, Ohio, Uptivity provides a complete mid-market WFO suite comprised of speech and desktop analytics, agent coaching, call and desktop recording, as well as quality, performance, workforce management and satisfaction surveys.
This strategic acquisition extends inContact's existing lead in the cloud contact center market and enables the company to address an additional estimated $1 billion in the expanding midsized WFO market, creating a powerful competitive advantage over other cloud players.
Said inContact CEO Paul Jarman, "Today's midsized contact centers are every bit as complex as their enterprise counterparts and need to provide a high quality, multi-channel service experience with limited capital budget and resources. These centers often lack IT personnel and dedicated WFO staff and require solutions that are easy to learn and use. " Continued Jarman, "We have strong success with our existing Verint-powered solution in the cloud, which we will continue to offer to enterprise customers. With the addition of Uptivity's full-featured WFO solution for the midmarket, inContact will now have a solid two-tier offering in a multibillion dollar industry."
Uptivity brings approximately 700 customers to the growing inContact family. The combined customer base will benefit from broader, complementary solutions and rapid cloud innovation, with continued support for a variety of telephony infrastructures. Like inContact, Uptivity has a strong reputation for customer centricity, earning the top overall vendor satisfaction rating for three straight years in industry analyst DMG Consulting LLC's Workforce Optimization Product and Market Report. inContact selected Uptivity due to the breadth of the company's portfolio, their growing recurring revenue stream and their readiness to exploit the cloud opportunity.
According to Jeff Canter, Uptivity CEO, "inContact believes in the power of WFO to transform the customer experience and this has been Uptivity's core mission for the past 10 years. We believe that this vision and the combination of two growing and dynamic companies will be both disruptive and exciting for the contact center market."
inContact, Inc. acquired Uptivity for $8.8 million in cash and approximately $37 million in stock. Parsons Behle & Latimer served as legal advisor to inContact in connection with this transaction. BakerHostetler served as legal advisor to Uptivity in connection with this transaction. Raymond James & Associates, Inc. advised inContact and provided a fairness opinion to their Board of Directors of InContact regarding the acquisition.
Concluded Jarman, "We believe that there is a tremendous opportunity for SaaS innovation in the WFO market. We are excited about the promise of the Uptivity acquisition and the value it will deliver to the market, to our joint customers and to our shareholders as well."