Genesys Completes Tender Offer to Acquire SoundBite
Leading the Cloud Contact Center Market, Genesys Cloud Now Powers Over 1,200
DALY CITY, Calif., July 2, 2013
DALY CITY, Calif., July 2, 2013 /PRNewswire/ --Genesys Telecommunications
Laboratories, Inc. today announced that the tender offer by its direct
wholly-owned subsidiary, Sonar Merger Sub Inc., to acquire all of the
outstanding shares of common stock of SoundBite Communications, Inc. (NASDAQ:
SDBT) expired at 12:00 midnight, New York City time, on July 1, 2013. All
shares that were validly tendered into the offer and not properly withdrawn
have been accepted for payment and will be paid promptly in accordance with
the terms of the offer.
As previously announced, pursuant to the merger agreement among Sonar Merger
Sub, SoundBite and Genesys, Sonar Merger Sub commenced a tender offer on June
4, 2013 to acquire all of the outstanding shares of common stock of SoundBite
for $5.00 per share, net to the seller in cash without interest and less taxes
required to be withheld.
The depositary for the tender offer has advised that, as of the offer's
expiration, 16,067,612 shares of common stock of SoundBite have been validly
tendered and not properly withdrawn pursuant to the tender offer. Those shares
represent approximately 97% of the outstanding shares of SoundBite.
Sonar Merger Sub and SoundBite will promptly complete a "short-form" merger
under Delaware law, and SoundBite will become a direct wholly-owned subsidiary
of Genesys. The merger is expected to be completed on or about July 3, 2013.
As a result of the merger, any shares of SoundBite common stock not previously
tendered will be cancelled and shall cease to exist and (other than shares
owned by SoundBite (including treasury shares), Genesys, Sonar Merger Sub, or
by stockholders of SoundBite who have exercised their appraisal rights
pursuant to Section 262 of the Delaware General Corporation Law) will be
converted into the right to receive the same $5.00 per share in cash paid in
the tender offer. Following the merger, SoundBite's common stock will cease to
be traded on The NASDAQ Global Market.
oGenesys completes tender offer to acquire SoundBite.
oThe acquisition will contribute approximately $50 million in cloud-based
revenue to Genesys, bringing the total to over $135 million for Genesys'
growing cloud business. The acquisition will bring Genesys additional
expertise in developing, marketing, and selling cloud-based customer
engagement solutions and will add approximately 450 new end-customers to
its existing base of 800 Genesys cloud customers. Combined with Genesys'
current cloud business, SoundBite will further extend Genesys' leadership
position in cloud solutions for marketing, sales, and customer service.
oWith the addition of SoundBite's market-leading applications, Genesys will
enrich its portfolio of cloud-based solutions for marketing, sales and
collections departments, and strengthen its ability to address additional
user communities across the enterprise.
oThe SoundBite applications complement the Genesys cloud-based customer
engagement solutions with additional mobile capabilities, including
self-service text messaging and mobile marketing capabilities, including
mobile coupons, in-store marketing, mobile web sites, and on-package QR
"The completion of this tender marks an important step in our effort to bring
the industry's most comprehensive portfolio of self-service and contact center
cloud solutions to market," said Paul Segre, President and CEO of Genesys.
"We are excited by the opportunity to offer customers new business-user
applications for marketing, self-service, payments and collections with the
Genesys is a leading provider of customer engagement and contact center
solutions. With more than 3,500 customers in 80 countries, Genesys
orchestrates more than 100 million customer interactions every day across the
contact center and back office, helping companies deliver fast and optimal
levels of customer service with a highly personalized cross-channel customer
experience. Genesys also prioritizes the flow of work to back office personnel
resulting from any customer interaction, internal workflow or business
application, optimizing the performance and satisfaction of customer-facing
employees across the enterprise.
Cautionary Note Regarding Forward Looking Statements
Investors are cautioned that statements in this press release that are not
strictly historical statements, including, without limitation, statements
regarding the expected timing of the completion of the transaction and the
ability to complete the transaction considering the various closing
conditions, are forward-looking statements within the meaning of the federal
securities laws and are subject to risks, uncertainties and assumptions. The
actual results of the transaction could vary materially as a result of a
number of factors, including: uncertainties as to the timing of the tender
offer and merger, the possibility that various closing conditions for the
transaction may not be satisfied or waived, including that a governmental
entity may prohibit, delay or refuse to grant approval for the consummation of
the transaction; the effects of disruption from the transaction making it more
difficult to maintain relationships with employees, clients, other business
partners or governmental entities; other business effects, including the
effects of industry, economic or political conditions outside of SoundBite's
control; transaction costs; actual or contingent liabilities; and other risks
and uncertainties discussed in SoundBite's filings with the Securities and
Exchange Commission, including the factors set forth in SoundBite's most
recent annual report on Form 10-K, the Tender Offer Statement on Schedule TO
and other tender offer documents to be filed by Genesys and Sonar Merger Sub,
and the Solicitation/Recommendation Statement on Schedule 14D-9 to be filed by
SoundBite. There is no assurance that any forward-looking statements will
materialize. You are cautioned not to place undue reliance on forward-looking
statements, which reflect expectations only as of the date of this filing.
SOURCE Genesys Telecommunications Laboratories, Inc.
Contact: Dominic Weeks (SHIFT Communications), email@example.com,
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