Genesys to acquire digital customer engagement leader Bold360

Genesys®, the cloud customer experience and contact center solutions provider, today announced its intention to acquire Bold360, a leader in AI-driven digital customer engagement. The acquisition of Bold360 from LogMeIn will help advance the Genesys Experience as a ServiceSM vision. Counting many of the world’s largest enterprises as customers, Bold360 is renowned for its leading digital capabilities, including conversational AI, a dynamic knowledge base and an intuitive agent experience, and is widely recognized by industry analysts.

Bold360's advanced digital capabilities will complement Genesys' artificial intelligence and data platform and partner ecosystem, helping companies deliver seamless, contextualized, and personalized customer experiences across all departments and channels. This acquisition will accelerate Genesys's vision of experience as a service and connect marketing, sales, and service experiences with empathy.

The vision of “experience as a service” enables companies to proactively listen, understand and predict customer behavior, thereby delivering a more productive and empathetic customer experience. As contact centers transform from cost centers to revenue centers, customer interactions and customer service become increasingly strategic to companies. According to Gartner, “By 2025, 40% of customer service organizations will become profit centers due to de facto leadership in digital customer interactions.”1

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● Tony Bates, CEO of Genesys, said: "The positive market response to Experience as a Service shows that many companies are eager to continue to innovate in customer service and deliver more empathetic customer experiences. Many companies realize that they need to leverage every customer interaction across every channel to provide more human customer service. With the help of Bold360, we will transform digital customer interactions into rich, dynamic and personalized customer experiences to help companies gain a differentiated competitive advantage."

● Aarde Cosseboom, senior director of technology, analytics and products at TechStyle Fashion Group GMS, said: "Genesys Cloud provides us with a powerful customer experience platform with all the capabilities we need to successfully help us improve our customer service level. The combination of Bold360 and Genesys digital and artificial intelligence platforms will have a profound impact on the industry, and we look forward to their combination to help us achieve further expansion of digital channels."

● Alan Webber, program vice president of customer experience at IDC, said: "Enterprises must be customer-centric. They need to design and orchestrate business processes based on customer experience rather than channel categories. One of the most promising areas in the market today is unifying digital technologies with the overall customer experience."

● LogMeIn is a leading provider of cloud-based solutions for borderless work across communications, security and IT. Bill Wagner, president and CEO of LogMeIn, said: "We are proud that LogMeIn has developed Bold360 into a customer interaction solution that is widely used by enterprise contact centers, supporting enterprises to provide more than 1 billion interactions each year. We believe that Genesys is the most suitable company to take over Bold360 and will definitely be able to tap the maximum potential of Bold360. Our focus in the future will be to help growing companies achieve more efficient, collaborative and secure borderless work through other market-leading products and solutions."

Once the transaction is officially completed, Bold360 will join the Digital and Artificial Intelligence business unit led by Barry O'Sullivan, executive vice president and general manager of Genesys. The acquisition is expected to further accelerate the company's growth momentum in the market. In fiscal year 2021, Genesys' cloud business achieved record growth, with more than 800 new customers added to Genesys Cloud™ and Genesys Engage Multicloud™.

Transaction Details

The transaction is expected to close in the first half of 2021. Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal advisor to Genesys, Mizuho Securities USA LLC is serving as exclusive financial advisor to LogMeIn, and Latham & Watkins LLP is serving as legal advisor to LogMeIn.