HomeMarket NewsSmall CapsLiveVox Shares Surge as the Company Agrees to be Acquired by NICE...

LiveVox Shares Surge as the Company Agrees to be Acquired by NICE Ltd

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LiveVox Holdings, Inc’s (NASDAQ: LVOX) shares are experiencing a significant boost in value today as the company has announced its agreement to be acquired by NICE Ltd (NASDAQ: NICE) for $3.74 per share in cash. This deal represents a premium of 12% over LiveVox’s last closing price.

The acquisition will see the integration of NICE’s CXone platform with LiveVox’s proactive outreach portfolio, creating a unified platform for deploying conversational AI in various customer engagements. NICE expects the transaction to have a positive impact on cash flow, operating income, operating margin, and non-GAAP EPS by 2024. The company’s share repurchase program will remain unaffected by the deal. The acquisition is expected to be completed in the first half of 2024, pending regulatory clearances and customary closing conditions.

As of June 30, 2023, NICE had total cash and cash equivalents and short-term investments amounting to $1.662 billion, with a net debt of $543.1 million (excluding hedge instruments).

Barak Eilam, CEO of NICE, expressed enthusiasm about the acquisition. β€œThe era of Digital Engagement is already here, and we are excited to enable organizations to propel their Digital Engagement and Conversational AI forward. In joining forces with LiveVox, we now have the strongest and broadest proactive outreach portfolio,” he said.

Upon completion of the transaction, LiveVox will no longer be publicly listed or traded on Nasdaq.

In response to this news, LiveVox shares have surged 8.083% to $3.61, while NICE shares have experienced a 0.57% decrease, trading at $167.76.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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