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[November 15, 2013]
Consortium of investors sell stake in Echopass to Genesys Telecommunications
Nov 15, 2013 (MarketLine Financial Deals Tracker via COMTEX) -- Echopass Corporation, a provider of cloud-based contact center software solutions, has been acquired by Genesys Telecommunications Laboratories, Inc., a provider of customer engagement and contact center solutions. Both the companies are based in the US.
Announcement (October 8, 2013): Echopass has entered into an agreement to be acquired by Genesys Telecommunications.
Echopass is backed by investment firms Canaan Partners, New Enterprise Associates, Inc. (NEA) and Columbia Partners Private Capital. Canaan and NEA are venture capital firms and Columbia Partners is a private equity firm.
The transaction is expected to close in the fourth quarter of 2013.
Deal Type Private Equity Sub-Category Exit Deal Status Completed: 2013-11-14 Deal Participants Target (Company) Echopass Corporation Acquirer (Company) Genesys Telecommunications Laboratories, Inc.
Deal Rationale The transaction allows Genesys to strengthen its position in the cloud-based contact centers market.
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