Salesforce and ServiceNow Invest $1.5 Billion in Genesys
Salesforce and ServiceNow are in advanced discussions to invest $750 million each in Genesys, a company specializing in AI-powered customer contact center software. This investment, totaling $1.5 billion, would value Genesys at around $15 billion, according to Bloomberg.
The investment aims to strengthen Genesys' position as a strategic customer experience platform, enhancing its AI-powered orchestration capabilities. The funds will be used to repurchase shares from existing equity holders, with Hellman & Friedman and Permira remaining as majority owners.
Genesys, which has a history of dealmaking, was acquired by Permira in 2012 and later expanded its cloud platform by acquiring Interactive Intelligence in 2016. The company has been a candidate for an initial public offering, having previously picked underwriters for a listing.
This investment marks a rare collaboration between enterprise software rivals Salesforce and ServiceNow, both of which have been increasing their dealmaking activities this year. Salesforce recently acquired Informatica for $8 billion, while ServiceNow announced its largest acquisition to date with the purchase of Moveworks.
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