Interactive Intelligence Acquires Latitude Software
October 05 2010 - 8:00AM
Business Wire
Interactive Intelligence (Nasdaq: ININ), a global provider of
unified IP business communications solutions, has acquired Global
Software Services, Inc., doing business as Latitude Software, a
privately-held provider of debt collection software and
services.
Interactive Intelligence purchased 100 percent of Latitude’s
stock for approximately $14 million in an all-cash transaction
funded from Interactive Intelligence’s cash-on-hand.
On a trailing twelve month basis ending Sept. 30, 2010, Latitude
recorded revenue of approximately $7.8 million, up 46 percent over
its revenues during the prior twelve month period. Latitude has no
outstanding debt.
“The acquisition of Latitude reflects one of our ongoing growth
strategies of using our strong cash position to add
industry-specific applications and expertise – a strategy we kicked
off last year with our acquisition of insurance content management
provider, AcroSoft,” said Interactive Intelligence founder and CEO,
Dr. Donald E. Brown.
“Latitude founder and president, Carl Harkleroad and his team
have created a well-architected and scalable software suite that’s
delivered on-premise or via the cloud,” continued Brown.
“Latitude’s offering backed by 13 years of industry experience will
augment our growing presence in the debt collection vertical, where
we continue to see increased demand for our all-in-one IP
communications software suite and sophisticated outbound dialing
functionality.”
“We’ve seen rapid growth of our 200-plus customer base, which
includes Fortune 500 companies that range from credit card
servicing and auto financing firms, to one of the country’s largest
providers of cable services,” Harkleroad said. “By joining
Interactive Intelligence we believe that we can accelerate this
growth, while offering our customers new products and services for
contact center automation, enterprise IP telephony, and business
process automation.”
Interactive Intelligence will offer the Latitude Software suite
as a standalone solution, which will include integration with its
own Interaction Dialer® application, as well as with third-party
dialer products.
Latitude will operate as a subsidiary of Interactive
Intelligence and it will maintain its current headquarters in
Jacksonville, Florida, which is currently staffed by 40
employees.
The Latitude team will continue to handle 24/7 customer support.
Latitude customers will continue to receive product enhancements,
both through generally available releases and requested
customization.
About Latitude Software
Latitude Software, a subsidiary of Interactive Intelligence, is
a provider of debt collection software and services for collection
agencies, first-party creditors, debt buyers, and law firms. The
company has been honored with Debt Connection Symposium’s 2008
“Industry Vendor of the Year” award, and the 2008 “Collection
Technology Excellence” award. Latitude was founded in 1997 and is
based in Jacksonville, Florida. It employs 40 people who serve more
than 200 customers throughout North America. Latitude can be
reached at 866.396.2599; on the Net:
http://www.debtsoftware.com/.
About Interactive Intelligence
Interactive Intelligence Inc. (Nasdaq: ININ) is a global
provider of unified business communications solutions for contact
center automation, enterprise IP telephony, and business process
automation. The company was founded in 1994 and has more than 3,500
customers worldwide. Interactive Intelligence is among Software
Magazine’s top 500 global software and services suppliers, is a
BusinessWeek “hot growth 50” company, and is among Fortune Small
Business magazine’s top 100 fastest growing companies. The company
is also positioned in the leaders’ quadrant of the Gartner Magic
Quadrant for Contact Center Infrastructure, Worldwide report (Feb.
22, 2010). Interactive Intelligence employs approximately 700
people and is headquartered in Indianapolis, Indiana. It has 14
offices throughout North America, Latin America, Europe, Middle
East, Africa and Asia Pacific. Interactive Intelligence can be
reached at +1 317.872.3000 or info@inin.com; on the Net:
www.inin.com.
This release may contain certain forward-looking statements that
involve a number of risks and uncertainties. Among the factors that
could cause actual results to differ materially are the following:
rapid technological changes in the industry; the company's ability
to maintain profitability; to manage successfully its growth; to
manage successfully its increasingly complex third-party
relationships resulting from the software and hardware components
being licensed or sold with its solutions; to maintain successful
relationships with certain suppliers which may be impacted by the
competition in the technology industry; to maintain successful
relationships with its current and any new partners; to maintain
and improve its current products; to develop new products; to
protect its proprietary rights adequately; to successfully
integrate acquired businesses; and other factors described in the
company's SEC filings, including the company's latest annual report
on Form 10-K.
Interactive Intelligence Inc. is the owner of the marks
INTERACTIVE INTELLIGENCE, its associated LOGO and numerous other
marks. All other trademarks mentioned in this document are the
property of their respective owners.
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