Industry veteran Genesys has new beginning.
The company got its start two decades ago. At the beginning, the company's vision was to provide capabilities for call centers in software using computer telephony integration. And it worked. Genesys became the leader in CTI.
So successful was Genesys in this hot new area called CTI that leading network infrastructure company Alcatel in September 1999 announced plans to buy the company for about $1.5 billion. But Alcatel-Lucent recently decided to sell off these customer service-related assets, and it was able to do so last year via another $1.5 billion deal, this one with Permira and Technology Crossover Ventures.
Permira is a Europe-based private equity firm that has committed $30 billion in capital around the world. Brian Ruder, partner and head of the Menlo Park, Calif., office for Permira funds, says his company is excited by the long-term growth potential of Genesys. He adds that the company has a strong brand, what he calls differentiated technologies, and a blue-chip customer base.
"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," says Ruder. "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."
The company offers a complete software suite for contact centers and customer service. Its application software started in the world of voice and IVR, but over the years the Genesys solution has gone multichannel, so it can now support chat, e-mail, mobile, social and voice communications, explains Nicolas De Kouchkovsky, Genesys chief marketing offering. He adds that the company continues to strengthen its offerings in the growing areas of analytics, cloud computing, process workflow, social engagement, and workforce optimization.
"We completely focus on customer service with a pure software suite that is independent of the underlying infrastructure and that works across multiple channels," De Kouchkovsky says.
With 2010 sales of $500 million, Genesys occupies the No. 2 market share position in the contact center space. The companys sofware handles more than 100 million customer interactions each day for 2,000 companies and government agencies in 80 countries.
As Ruder notes, some of the organizations using Genesys solutions are big dogs. Indeed, the solutions are leveraged by more than 60 percent of the Global 100, and in 2012 it intends to further extend that by increasing R&D by 14 percent.
But while Genesys has historically served the high end of market, it is now expanding down market, adds De Kouchkovsky. He notes that the company offers its solutions both on a license basis and via a software-as-a-service model; the Genesys SaaS solutions are delivered through partners like AT&T, Verizon, and Working Solutions. Genesys last year announced it had hit the 1,000 SaaS customer mark.
"Today we are building on the incredible story that is Genesys and launching the company into its new future," says Paul Segre, Genesys president and CEO. "Were now backed by the best in the business in the 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,"
RELATED ARTICLE: New Board Members at Genesys
Stephen Davis, partner at Banneker Partners, a San Francisco-based private equity firm focused on investing in software/SaaS, Internet and business services companies with a goal of driving top line growth organically and through acquisitions and operational improvement. Davis has led the acquisitions of several software companies, including Applied Systems, BigMachines, Petroleum Place and Ventyx.
Tom Lister, co-managing partner, and Brian Ruder, partner, from Permira. Over the past 26 years the Permira funds have made nearly 200 private equity investments, more than 30 percent of which have been in the sector of technology, media and telecom. Those investments include All3Media, NDS, Odigeo, and Renaissance Learning.
Jake Reynolds, general partner, Technology Crossover Ventures, a leading provider of growth capital to technology companies. With $7.7 billion in capital under management, TCV has invested in more than 150 technology companies leading to 50 initial public offerings and more than 40 strategic sales or mergers. In addition to Genesys, the company has invested in Altiris, Ariba, EXL Service, Expedia, Facebook, Groupon, Netflix, and OSIsoft.
Paul Segre, Genesys, who has been a senior executive at the company since 2002.
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|Publication:||Customer Interaction Solutions|
|Date:||Apr 1, 2012|
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