Genesys Sets a New Course
Genesys Telecommunications Laboratories, a provider of customer service and contact center software and services, officially broke away from Alcatel-Lucent on February 1 following its mid-October acquisition by European private equity firms Permira Funds and Technology Crossover Ventures for $1.5 billion.
Genesys, which has more than 2,000 customers in 80 countries, was founded in 1990 and purchased by Paris-based Alcatel-Lucent in 2000. Genesys reported 2010 sales of approximately $500 million.
Under its new ownership, Genesys will remain headquartered in Daly City, Calif., and will continue to be led by current president and CEO Paul Segre and its existing senior management team. The agreement also includes the transfer of approximately 1,800 employees worldwide.
"Today we are building on the incredible story that is Genesys and launching the company into its new future," Segre said in a statement. "We're now backed by the best in the business in Permira Funds and TCV, and we have the industry;s most unique combination of customers, partners, and people to innovate around the customer experience. We are on a singular mission to save the world from bad customer service."
With the backing of the investor group, Genesys will continue to provide market-leading contact center products and solutions to clients around the world while enhancing its core product portfolio and strengthening its offering in the growing areas of cloud computing, analytics, workforce optimization, process workflow, and social engagement, the company said.
Under its current ownership, Genesys intends to further extend its leadership position in the contact center space by increasing research and development by 14 percent this year, the company said further.
"Genesys is generating a level of excitement in the market that we have not seen recently, and we are thrilled to be part of this evolving story," said Brian Ruder, partner and head of the Menlo Park, Calif., office of Permira Funds, in a statement. "We believe the company is not only poised for solid growth, but its unique mix of talented people, leading and disruptive technology, and blue-chip customer base creates opportunities to transform the customer service and contact center markets."
Genesys's customer base includes Bank of America, United Airlines, AT&T, Telstra, Shangri La Hotels, Emirates Airlines, and Vodafone.