TMCNet:  Genesys Telecommunications acquires Echopass

[November 15, 2013]

Genesys Telecommunications acquires Echopass

Nov 15, 2013 (MarketLine Financial Deals Tracker via COMTEX) -- Genesys Telecommunications Laboratories, Inc., a provider of customer engagement and contact center solutions, has acquired Echopass Corporation, a provider of cloud-based contact center software solutions. Both the companies are based in the US.

Announcement (October 8, 2013): Genesys Telecommunications has entered into a definitive agreement to acquire Echopass.

Echopass is backed by investment firms Canaan Partners, New Enterprise Associates, Inc. and Columbia Partners Private Capital.

The transaction is expected to close in the fourth quarter of 2013.

Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2013-11-14 Deal Participants Target (Company) Echopass Corporation Acquirer (Company) Genesys Telecommunications Laboratories, Inc.

Vendor (Company) Undisclosed Investors* Deal Rationale The transaction allows Genesys to strengthen its position in the cloud-based contact centers market.

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