Durham's OrgSpan is being acquired
04/17/2014 5:53 PM
04/17/2014 5:54 PM
OrgSpan, a 40-employee business software company based in Durham, has agreed to be acquired by publicly traded Interactive Intelligence Group. Financial details weren’t disclosed.
Founded in 2011 by Jeff Swartz, who previously was a developer at Interactive Intelligence, OrgSpan’s cloud-based software products include: OrgSpan Select, which helps customers connect with the customer service representative who can best meet their needs; and OrgSpan Connect, which enhances collaboration among employees.
Indianapolis-based Interactive Intelligence, which posted $318.2 million in revenue last year, produces customer call center software.
“OrgSpan develops socially relevant communications products that our customers have found valuable and unique,” Bill Gildea, Interactive Intelligence’s senior vice president of corporate development, said in a statement. “These social customer service components, together with the core cloud architecture that OrgSpan has developed, are important to the foundation of our cloud offerings moving forward.”
OrgSpan employees will remain at their current location in Durham after the sale is completed, which is expected to happen within 30 days.
The majority owner of OrgSpan is Donald E. Brown, who also is the founder and CEO of Interactive Intelligence.
Interactive Intelligence said its independent audit committee has been re-assessing the relationship between the two companies and negotiated the letter of intent agreement. Approval of the deal is “subject to receipt of a satisfactory fairness opinion from the committee’s independent valuation consultant.”
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