Intervoice to Acquire Edify
DALLAS and ATLANTA - Intervoice, Inc. signed an agreement to purchase Edify Corporation from S1 Corporation, Edify's parent company. Upon closing, Intervoice will pay S1 $33.5 million in cash to acquire Edify.
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 merger will bring together Intervoice's development tools, standards-based applications and global presence with Edify's Web-based tools, natural language applications and North American market presence. The merger is expected to close in December 2005, subject to normal and customary closing conditions. Bob Ritchey will continue as president and CEO of Intervoice. Edify president and CEO Mitch Mandich will stay with the company through a transition period as an advisor to ensure integration of the newly combined enterprise.
Over the last four fiscal quarters, as published in Intervoice's and S1's respective quarterly disclosures, Intervoice and Edify had combined revenue in excess of $200 million. At closing, the combined company is expected to have more than 850 employees around the world. Together, Intervoice and Edify have deployed more than 1.5 million ports handling millions of mission critical calls daily for more than 5000 customers worldwide.
Intervoice scheduled a conference call for 10:00 a.m. central time on Friday November 18, 2005, to discuss its vision and strategy for the combined company and general information about the company's financial performance to date. To participate in the call, dial (913) 981-5542. The conference call confirmation code is 4393034. A webcast and replay of the call will be available at the company's Web site: www.intervoice.com.