ServiceNow and Salesforce will invest $1.5 billion in Genesys, a cloud customer experience platform.
Genesys said that the proceeds from the ServiceNow and Salesforce will be used to buy the shares from existing equity holders. Hellman & Friedman and Permira will remain majority shareholders of Genesys.
According to the company, Genesys Cloud has $2.1 billion in annual recurring revenue as of the first quarter ended April 30, good for growth of 35%.
ServiceNow and Salesforce already have partnerships and integrations with Genesys. CX Cloud from Genesys and Salesforce integrates Genesys Cloud and Salesforce Service Cloud. Unified Experience from Genesys and ServiceNow combine Genesys Cloud and ServiceNow Customer Service Management.
The contact center market has been picking up. Nice acquired Cognigy for nearly $1 billion. Genesys competes with Nice, Five9, Zoom, Amazon Connect and Microsoft Dynamics Contact Center to name a few.Constellation ShortList™ Contact Center as a Service (CCaaS)
- Constellation ShortList™ Conversational Intelligence for Customer Service
- Constellation ShortList™ Contact Center Workforce Engagement Management (WEM)
Separately, Five9 CEO Mike Burkland said he will retire from his role. Five9 reported second quarter revenue of $283.3 million, up 12% from a year ago, with net income of $1.2 million. The company projected 2025 revenue between $1.1435 billion to $1.1495 billion.
