17 November 2017
visit www.response.ncr.com

S1 sells Edify business to Intervoice

21 November 2005  |  6270 views  |  0 call centre

S1 Corporation is selling its Edify business, which supplies interactive voice response (IVR) technology to financial firms, to Dallas-based Intervoice for $33.5 million in cash.

Atlanta-based S1 originally put the Edify business up for sale in 2003 but called off talks after failing to agree a price with prospective buyers.

The acquisition by Intervoice is expected to close in December 2005. Going forward, S1 says it will continue as a reseller of the joint voice banking products developed with Edify.

Intervoice says its merger with Edify will strengthen its position in the voice automation market. The Edify business will also provide it with added revenues and resources that will enable it to accelerate the development and delivery of multi-channel, automated information systems for both its enterprise and network customers.

Over the last four fiscal quarters, 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.

Craig Holmes, EVP and CFO of Intervoice, says: "We believe this acquisition is a good investment for our shareholders. Edify's recurring maintenance revenues, voice-automation solutions and world-class customer base will immediately drive revenue growth following the closing."

"We expect this acquisition to be accretive to gross margins, operating margins and earnings per share within the first year," he adds.

Following the acquisition, Bob Ritchey will continue as president and CEO of Intervoice, while Edify president and CEO Mitch Mandich will stay with the company through a transition period as an advisor.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

S1 cuts jobs; warns of Q3 loss

S1 cuts jobs; warns of Q3 loss

17 October 2005  |  6680 views  |  0 comments
S1 names co-founder James Mahan CEO; releases Q2 outlook

S1 names co-founder James Mahan CEO; releases Q2 outlook

25 July 2005  |  5404 views  |  0 comments
Wells Fargo deploys Intervoice speech recognition system

Wells Fargo deploys Intervoice speech recognition system

27 August 2003  |  9568 views  |  0 comments
NetBank implements Intervoice for speech activated customer services

NetBank implements Intervoice for speech activated customer services

15 August 2003  |  4638 views  |  0 comments
S1 calls off Edify sale talks

S1 calls off Edify sale talks

01 May 2003  |  3403 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ncr.comvisit www.solutions.lexisnexis.comvisit www.asiapacificwealthreport.com

Top topics

Most viewed Most shared
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
11239 views comments | 15 tweets | 28 linkedin
Digital receipt startup Flux scores game-changing deal with BarclaysDigital receipt startup Flux scores game-c...
9508 views comments | 20 tweets | 36 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
8258 views comments | 11 tweets | 35 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
7253 views comments | 26 tweets | 37 linkedin
Visa bids to bring contactless transit payments to the worldVisa bids to bring contactless transit pay...
7131 views comments | 16 tweets | 29 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job