DALY CITY, Calif., July 2, 2013 /PRNewswire/ -- Genesys
Telecommunications Laboratories, Inc. today announced that the
tender offer by its direct wholly-owned subsidiary, Sonar Merger
Sub Inc., to acquire all of the outstanding shares of common stock
of SoundBite Communications, Inc. (NASDAQ: SDBT) expired at 12:00
midnight, New York City time, on
July 1, 2013. All shares that were
validly tendered into the offer and not properly withdrawn have
been accepted for payment and will be paid promptly in accordance
with the terms of the offer.
As previously announced, pursuant to the merger agreement among
Sonar Merger Sub, SoundBite and Genesys, Sonar Merger Sub commenced
a tender offer on June 4, 2013 to
acquire all of the outstanding shares of common stock of SoundBite
for $5.00 per share, net to the
seller in cash without interest and less taxes required to be
withheld.
The depositary for the tender offer has advised that, as of the
offer's expiration, 16,067,612 shares of common stock of SoundBite
have been validly tendered and not properly withdrawn pursuant to
the tender offer. Those shares represent approximately 97% of the
outstanding shares of SoundBite.
Sonar Merger Sub and SoundBite will promptly complete a
"short-form" merger under Delaware
law, and SoundBite will become a direct wholly-owned subsidiary of
Genesys. The merger is expected to be completed on or about
July 3, 2013. As a result of the
merger, any shares of SoundBite common stock not previously
tendered will be cancelled and shall cease to exist and (other than
shares owned by SoundBite (including treasury shares), Genesys,
Sonar Merger Sub, or by stockholders of SoundBite who have
exercised their appraisal rights pursuant to Section 262 of the
Delaware General Corporation Law) will be converted into the right
to receive the same $5.00 per share
in cash paid in the tender offer. Following the merger, SoundBite's
common stock will cease to be traded on The NASDAQ Global
Market.
News Facts:
- Genesys completes tender offer to acquire SoundBite.
- The acquisition will contribute approximately $50 million in cloud-based revenue to Genesys,
bringing the total to over $135
million for Genesys' growing cloud business. The acquisition
will bring Genesys additional expertise in developing, marketing,
and selling cloud-based customer engagement solutions and will add
approximately 450 new end-customers to its existing base of 800
Genesys cloud customers. Combined with Genesys' current cloud
business, SoundBite will further extend Genesys' leadership
position in cloud solutions for marketing, sales, and customer
service.
- With the addition of SoundBite's market-leading applications,
Genesys will enrich its portfolio of cloud-based solutions for
marketing, sales and collections departments, and strengthen its
ability to address additional user communities across the
enterprise.
- The SoundBite applications complement the Genesys cloud-based
customer engagement solutions with additional mobile capabilities,
including self-service text messaging and mobile marketing
capabilities, including mobile coupons, in-store marketing, mobile
web sites, and on-package QR codes.
Supporting Quote:
"The completion of this tender marks
an important step in our effort to bring the industry's most
comprehensive portfolio of self-service and contact center cloud
solutions to market," said Paul
Segre, President and CEO of Genesys. "We are excited
by the opportunity to offer customers new business-user
applications for marketing, self-service, payments and collections
with the SoundBite acquisition."
About Genesys
Genesys is a leading provider of
customer engagement and contact center solutions. With more than
3,500 customers in 80 countries, Genesys orchestrates more than 100
million customer interactions every day across the contact center
and back office, helping companies deliver fast and optimal levels
of customer service with a highly personalized cross-channel
customer experience. Genesys also prioritizes the flow of work to
back office personnel resulting from any customer interaction,
internal workflow or business application, optimizing the
performance and satisfaction of customer-facing employees across
the enterprise.
www.genesyslab.com
Cautionary Note Regarding Forward Looking
Statements
Investors are cautioned that statements in
this press release that are not strictly historical statements,
including, without limitation, statements regarding the expected
timing of the completion of the transaction and the ability to
complete the transaction considering the various closing
conditions, are forward-looking statements within the meaning of
the federal securities laws and are subject to risks, uncertainties
and assumptions. The actual results of the transaction could
vary materially as a result of a number of factors, including:
uncertainties as to the timing of the tender offer and merger, the
possibility that various closing conditions for the transaction may
not be satisfied or waived, including that a governmental entity
may prohibit, delay or refuse to grant approval for the
consummation of the transaction; the effects of disruption from the
transaction making it more difficult to maintain relationships with
employees, clients, other business partners or governmental
entities; other business effects, including the effects of
industry, economic or political conditions outside of
SoundBite's control; transaction costs; actual or contingent
liabilities; and other risks and uncertainties discussed in
SoundBite's filings with the Securities and Exchange Commission,
including the factors set forth in SoundBite's most recent annual
report on Form 10-K, the Tender Offer Statement on Schedule TO and
other tender offer documents to be filed by Genesys and Sonar
Merger Sub, and the Solicitation/Recommendation Statement on
Schedule 14D-9 to be filed by SoundBite. There is no
assurance that any forward-looking statements will materialize. You
are cautioned not to place undue reliance on forward-looking
statements, which reflect expectations only as of the date of this
filing.
SOURCE Genesys Telecommunications Laboratories, Inc.