iPhrase Technologies Inc. today announced the acquisition of Israeli start-up Banter Systems Inc.
iPhrase is a provider of advanced search and online customer interaction solutions that help companies with complex offerings to automate their sales, service and support operations. iPhrase now has 150 customers, including Charles Schwab, Countrywide Financial, Gateway Computer, National Semiconductor, Neiman Marcus and Radio Shack.
Banter is a provider of automatic classification software used to understand unstructured content and informal communications.
The companies said today that the acquisition makes them uniquely positioned to help companies with complex offerings automate their sales, service and support operations across multiple communications channels.
iPhrase acquired Banter in an all-stock transaction. The deal doubles the size of iPhrase's engineering team and will enable the company to rapidly bring new solutions to market. iPhrase acquired all of Banter's technology assets, customers, partner relationships and employees, including Banter's Israeli-based research and development team.
James C. Hale from FTVentures, an investor in Banter, will be joining iPhrase's board of directors. The acquisition has closed and Banter's integration into iPhrase is underway. iPhrase will maintain its current Cambridge, Massachusetts headquarters.
"Banter's leading technology and first-rate engineering team made the company an attractive and natural choice for iPhrase," said iPhrase Technologies CEO and chairman of the board Dan Keshian. "Banter has proven itself by securing OEM relationships with CRM market leaders such as Siebel, KANA and Avaya".
Published by Globes [online] - www.globes.co.il - on 12 January 2004