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Convergys Corporation (CVG) to Acquire Intervoice, Inc. (INTV) for $8.25 per Share

Convergys Corporation (NYSE: CVG), a leader in relationship management that provides solutions to optimize interactions between customers and employees, and Intervoice, Inc. (NASDAQ: INTV), a provider of converged voice and data applications and tools and infrastructure, recently announced that they have approved a definitive merger agreement. Under the terms of the agreement, Convergys Corporation will acquire Intervoice, Inc. for $335 million in cash or the equivalent of $8.25 per share.

By integrating Intervoice’s speech automation, web self-care and mobile applications, Convergys Corporation will be able to provide an array of automated and live-agent services to its customers, which include T-Mobile USA and AT&T Mobility. Convergys Corporation currently operates 87 call centers with more than 75,000 employees, making it the largest teleservices company in the United States.

Convergys Corporation expects the deal to close in the third quarter and to start adding to earnings next year, excluding amortization and one-time costs. Per the agreement, Convergys Corporation will commence a tender offer for all outstanding shares of Intervoice’s common stock for $8.25 per share no later than August 1, 2008.

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