Apparently Genesys still isn’t satisfied at its position in cloud contact center offerings. Today the company announced the acquisition of Echopass Corporation based in Pleasanton, CA. According to the press release, Genesys has 1,250 cloud customers, and it’s looking for more.
The last major M&A in the industry occurred in July when Aspect scored Voxeo for $150 million. Prior to that, Genesys bought Angel for $110 million. Sure looks like some sort of cloud race going on, doesn’t it? No word on how much money Echopass was purchased for, but as a reference investors have poured about $9 million into the company.
In retrospect, I don’t know why Genesys went for Angel first then Echopass considering the latter has much more in common. Both Genesys and Echopass are based in northern California. They have been technology partners for some time. And Echopass leadership includes several ex-Genesys folks.
All this M&A activity is a testament to cloud-based contact center solutions. Those who invested early and heavy in the cloud have reaped great rewards, whether it’s more customers, more sales, or a sweet exit. There’s no indication of a plateau in the cloud trend, and the paradigm is already fast becoming the norm among enterprises.
Definitely exciting times for cloud-centric companies like Echopass… In fact, so excited about the deal that it didn’t care to find out the right Twitter handle for Genesys:
— Echopass Corporation (@EchopassCorp) October 8, 2013
Ooops! But no worries, maybe you could start calling yourselves @Echopa$$. Congratulations.