Bedford Company Sold for $100 Million

Genesys has acquired Bedford-based SoundBite Communications for about $100 million ($5 a share).

SoundBite, based on Crosby Drive, has more than 450 clients, including 50 Fortune 500 companies. The company has products in “customer experience management,” such as mobile marketing, customer care and collections/payments, according to a joint company press release.  

“Cloud solutions that quickly solve business challenges are in high demand, and offering these solutions is core to our mission.” said Paul Segre, president and CEO of Genesys. “The acquisition of SoundBite will expand our portfolio to help our customers meet these challenges, and continues our rapid expansion into cloud solutions in both new and existing markets.”

“This transaction provides our stockholders with a significant premium for their shares, and presents SoundBite with an exciting new endeavor that makes tremendous sense for the market,” said Jim Milton, president and CEO of SoundBite. “We believe existing SoundBite customers will value the benefits of being part of the global Genesys community made up of the world’s leading innovators in customer experience.”