Upland Software, Inc. (Nasdaq: UPLD), a provider of cloud-based enterprise work management software, has acquired InGenius, a Computer Telephony Integration (CTI) solution for enterprise contact centers, the company said.
With the addition of InGenius´ CTI platform, Upland can now offer the first Contact Center Productivity solution suite that provides a single pane of glass for all voice and CRM data, along with enterprise knowledge management and customer sentiment analysis solutions to drive improved contact center efficiency and customer experience. The acquisition adds approximately USD 9 million in annualized revenues and will be immediately accretive to Upland´s Adjusted EBITDA per share.
The purchase price paid for InGenius was USD 26.4 million in cash at closing, and a USD 3.0 million cash holdback payable in 12 months (subject to indemnification claims). The foregoing excludes any potential future earn-out payments tied to additional performance-based goals.
Upland expects the acquisition to generate annual revenue of approximately USD 9 million, all of which is recurring, subject to reductions for a deferred revenue discount as a result of GAAP purchase accounting, estimated as USD 0.8 million for the remainder of 2019. The acquisition is within Upland´s target price range of 5-8x pro forma Adjusted EBITDA and will generate at least USD 4 million in Adjusted EBITDA annually once fully integrated. The acquisition will be immediately accretive to Upland´s Adjusted EBITDA per share.
Upland Software (Nasdaq: UPLD) is a provider of cloud-based enterprise work management software. To learn more, visit www.uplandsoftware.com.
InGenius Connector Enterprise expertly integrates existing telephone systems into CRMs, with an enterprise-proven solution. Using innovative computer telephony integration (CTI) that offers maximum configuration flexibility and security, InGenius easily adapts to unique contact center needs. Contact centers use InGenius to increase productivity and enhance the customer experience. For more information, visit https://www.InGenius.com.