Today Enghouse Systems Ltd., along with its wholly owned subsidiary, Syntellect, announced a definitive agreement to acquire the business and operations of CosmoCom, Inc., for $20M US. CosmoCom’s annual revenues for fiscal 2010 were approximately US$17,600,000.
The press release stated, “With more than 40 years combined experience, Syntellect and CosmoCom have a strong tradition of expertise and experience serving the Contact Center industry.” I’ll say — Syntellect has more than a quarter of a century in the contact center space, initially starting out with IVR, and moving to contact center and customer interaction management. Syntellect is one of the very few original vendors that started out in IVR that kept its name, even after they were acquired by Enghouse in 2002.
Syntellect itself is no stranger to acquisitions. The company acquired voicemail and IVR vendor Dytel, and IVR vendor URIX in 1992, and Telecorp Corp in 1995. They acquired call center software vendor, Teloquent in 2003, contact center software provider, Apropos in 2005, speech vendor Fluency Voice in 2008 and tools vendor, Envox in 2008. Each acquisition has been very targeted to allow them to grow geographically or build their portfolio. As with parent company Enghouse, the companies they have acquired have been very strategic, and complimentary to Syntellect. For example, within Enghouse’s Interaction Management division, which Syntellect is part, Enghouse’s portfolio includes:
- Telrex – enterprise class call recording
- Arc – operator consoles
- Datapulse – portfolio of IP consoles, call logging and applications such as directory services, and unified communications applications
- Exxcom – call logging, asset management, network management
- Trio – voice and call processing platforms in Scandanavia
Both CosmoCom and Syntellect have contact center products and provide hosting, so there will be overlap, but Syntellect, while providing hosting options for over a decade, has been needing to grow the its hosting business for awhile, by upgrading and expanding capacity in the cloud. This acquisition will bring them cloud capacity and a larger geographic base to cover. This will bring more options to the Syntellect and CosmoCom customers.