Upland Software Announces Acquisition of InGenius
Upland acquires contact centre productivity suite
Leader in cloud-based solutions for enterprise work management software, Upland has announced its acquisition of InGenius. InGenius is a provider of innovative Computer Telephony Integration solutions for contact centres. The addition of the InGenius GTI platform to Upland’s portfolio allows the company to provide a single pane of glass for all its CRM and voice data. This includes enterprise knowledge management, and sentiment analysis to drive improved customer experience and contact centre efficiency.
The new acquisition adds around $9 million in annual revenue to Upland’s earnings. According to the CEO and Chairman of Upland Software, Jack McDonald, with InGenius, Upland can extend its leadership in the Customer Experience Management environment. Now, Upland can offer the first knowledge-driven multi-channel solution suite that integrates contact centre and CRM platforms for a real-time customer experience. Additionally, the transaction has an immediate impact on EBITDA per share.
The Future Looks Bright for Upland
McDonald noted that Upland Software began the second half of 2019 with fantastic momentum, beating the top range of its Q2 guidance ranges for adjusted EBITDA and revenue. Upland closed two accretive acquisitions in Q2 and achieved substantial sales bookings too. The momentum for the brand has continued since, with additional acquisitions since the start of Q3 and ongoing strong performance.
The acquisition pipeline remains robust, and the company is active in the market, searching for additional acquisitions and a strong end to 2019.
Call centre productivity software is currently at the heart of the contact centre and CRM markets, allowing contact centres to provide improved personalisation and enhanced service with access to real-time information. The Upland Contact Centre productivity solution suite will allow customers to solve crucial pain points for customers with the integrations of productivity solutions that include the InGenius CTI platform for a single pane of glass insight into Voice and CRM data. Users can also access RightAnswers for knowledge management, and Rant & Rave for real-time sentiment insights.
As Contact Centre leaders look for more comprehensive solutions to improve agent productivity, Upland’s Chief Customer Officer, Mounir Hilal, believes that the new contact centre productivity suite is a step in the right direction. The solution allows for a better-performing enterprise contact centre provided through increased agent productivity, better omni-channel experiences, and improved command over agent experience.
A Stream of Successes for Upland
The purchase price that Upland offered for InGenius was $26.4 million in cash, and another $3.0 million cash holdback payable in the next 12 months. Upland expects that the purchase will generate annual revenue of around $9 million, subject to reductions from a deferred revenue discount caused by GAAP purchase accounting.
Along with information about the acquisition, Upland also recently announced that it had adjusted its full-year guidance for 2019 to reflect the purchase. This means that recurring revenue, revenue, and adjusted EBITDA guidance ranges have been updated and increased. For the full year ending this December, Upland expects a total revenue of between $213.8 and $217.8 million.