eGain to acquire Exony in omnichannel move
eGain a leading provider of customer engagement solutions has signed a definitive agreement to acquire Exony Limited, an innovative contact centre software provider. The acquisition extends eGain’s platform with contact centre management, reporting and analytics capabilities.
Fortune 500 companies and global service providers rely on Exony solutions to consolidate contact centre infrastructure seamlessly, manage operations and improve customer experience. Exony solutions are used by over 80 clients with contact centre operations across 34 countries.
“Enterprises want to implement omnichannel capabilities as they consolidate contact centres,” said Ashu Roy, eGain CEO. “Together, we will help clients take the effort out of omnichannel. The combination gives us increased scale and creates new opportunities to accelerate growth.”
“We are pleased to join the eGain team and see strong synergies in our combined voice and digital platform,” said Rex Dorricott, Exony CEO. “Moreover, both eGain and Exony are strong SolutionsPlus™ partners of Cisco. Working as one, we will deliver even more innovative solutions to the Cisco ecosystem.”
Pursuant to the terms of the share purchase agreement, eGain will acquire Exony for a purchase price of approximately $16.1 million, consisting of approximately $8.05 million payable in cash and $8.05 million payable through the issuance of 1,209,314 shares of eGain common stock (valued on a 30-day trading average prior to the agreement date). The purchase price is subject to adjustment based on Exony’s working capital at the closing. The transaction is expected to close within one week. The cash portion of the transaction will be funded from eGain’s existing cash and its available credit facility. Exony generated revenue of approximately $16.1 million in its fiscal year ended September 30, 2013. eGain intends to provide pro forma financial details with the release of its fiscal 2014 financial results on August 28, 2014.