NICE closes on 940M acquisition of inContact

Paramus-based NICE announced Monday it has closed on its $940 million acquisition of inContact, a cloud contact center company.The deal, according to NICE, is the first of its kind that will allow one vendor to offer both contact center cloud infrastructure as well as workforce optimization applications and analytics.

“The successful completion of this acquisition is a major milestone for NICE, inContact, as well as the entire market,” Barak Eilam, CEO of NICE, said in a prepared statement. “This agreement is an important element of our strategic vision to provide the market a true end-to-end contact center cloud offering and positions our company as the clear leader in the Contact Center as a Service industry. Organizations of all sizes can now transition their traditional contact centers to ‘Experience Centers.’ ”

Under the agreement, NICE will acquire inContact for $14 per share in cash, which values the transaction at approximately $940 million. NICE said it is planning to finance the acquisition with cash and a debt of up to $475 million.

 “The inContact team and I are excited to join NICE. We recognize the unique opportunity that joining NICE presents for our customers, our market, and our company,” Paul Jarman, CEO of inContact, said in a prepared statement. “Coupling our technology, experience in the cloud and talented team with a market leader with such a strong position in terms of technology, deep industry expertise and customer base, will pay great dividends for both enterprises and SMBs that are looking to have the best tools available with maximum flexibility and value.”

RBC Capital Markets; J.P. Morgan; Davis, Polk & Wardwell; Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates; Ernst & Young; and Meitar Liquornik Geva Leshem Tal advised NICE on the deal and debt.