NICE Systems buys AI proactive outreach provider LiveVox

NICE CEO Barak Eilam credit: CRC Media
NICE CEO Barak Eilam credit: CRC Media

The Israeli company will pay $350 million for San Francisco-based LiveVox, which listed on Nasdaq at a company valuation of $840 million in 2021.

Israeli software company NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) today announced it has entered a definitive agreement to acquire AI-driven proactive outreach provider LiveVox (Nasdaq: LVOX). NICE Systems will pay about $350 million for LiveVox, two years and three months after the San Francisco-based company listed on Wall Street through a SPAC merger at a company valuation of $840 million.

NICE Systems, which provides contact center software, artificial intelligence, digital and workforce engagement management solutions will pay $3.74 cash per LiveVox share, a 5% premium on the company's share price before the deal was reported. At the start of trading on Wall Street, LiveVox's share price rose by 8%. NICE System's share price is down 1% at $166.95, giving a market cap of $10.9 billion.

The deal is expected to be completed in the first half of 2024 and NICE adds that the deal is expected to be cash flow positive and accretive to NICE’s operating income, operating margin and non-GAAP EPS during 2024. At the end of the second quarter of 2023, NICE had $1.66 billion in cash and debt of $543 million.

NICE says that its "CXone platform, with its advanced digital engagement capabilities, and Enlighten, the industry’s only AI purpose-built for CX, combined with LiveVox’s sophisticated and rich proactive outreach portfolio creates the only truly unified platform converging all interactions, voice and digital, attended and unattended, inbound and outbound. Together, NICE and LiveVox will help organizations accelerate their CX operations into the digital era with smart conversational AI at scale."

NICE CEO Barak Eilam said, "Today, we are taking another major step in making smart conversational AI a reality. The era of Digital Engagement is already here and we are excited to enable organizations to propel their Digital Engagement and Conversational AI forward. In joining forces with LiveVox we now have the strongest and broadest proactive outreach portfolio. NICE has a remarkable track record in augmenting its leading innovation with complementary acquisitions. I am excited about this acquisition, and I am positive that together with the experienced and talented LiveVox team we will create an outstanding incremental value to our customers and shareholders."

Jefferies is acting as exclusive financial advisor to LiveVox.

Published by Globes, Israel business news - en.globes.co.il - on October 4, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

NICE CEO Barak Eilam credit: CRC Media
NICE CEO Barak Eilam credit: CRC Media
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