DALY CITY, Calif., July 2, 2013 /PRNewswire/ -- Genesys Telecommunications Laboratories, Inc. today announced that the tender offer by its direct wholly-owned subsidiary, Sonar Merger Sub Inc., to acquire all of the outstanding shares of common stock of SoundBite Communications, Inc. (NASDAQ: SDBT) expired at 12:00 midnight, New York City time, on July 1, 2013. All shares that were validly tendered into the offer and not properly withdrawn have been accepted for payment and will be paid promptly in accordance with the terms of the offer.
As previously announced, pursuant to the merger agreement among Sonar Merger Sub, SoundBite and Genesys, Sonar Merger Sub commenced a tender offer on June 4, 2013 to acquire all of the outstanding shares of common stock of SoundBite for $5.00 per share, net to the seller in cash without interest and less taxes required to be withheld.
The depositary for the tender offer has advised that, as of the offer's expiration, 16,067,612 shares of common stock of SoundBite have been validly tendered and not properly withdrawn pursuant to the tender offer. Those shares represent approximately 97% of the outstanding shares of SoundBite.
Sonar Merger Sub and SoundBite will promptly complete a "short-form" merger under Delaware law, and SoundBite will become a direct wholly-owned subsidiary of Genesys. The merger is expected to be completed on or about July 3, 2013. As a result of the merger, any shares of SoundBite common stock not previously tendered will be cancelled and shall cease to exist and (other than shares owned by SoundBite (including treasury shares), Genesys, Sonar Merger Sub, or by stockholders of SoundBite who have exercised their appraisal rights pursuant to Section 262 of the Delaware General Corporation Law) will be converted into the right to receive the same $5.00 per share in cash paid in the tender offer. Following the merger, SoundBite's common stock will cease to be traded on The NASDAQ Global Market.News Facts:
- Genesys completes tender offer to acquire SoundBite.
- The acquisition will contribute approximately $50 million in cloud-based revenue to Genesys, bringing the total to over $135 million for Genesys' growing cloud business. The acquisition will bring Genesys additional expertise in developing, marketing, and selling cloud-based customer engagement solutions and will add approximately 450 new end-customers to its existing base of 800 Genesys cloud customers. Combined with Genesys' current cloud business, SoundBite will further extend Genesys' leadership position in cloud solutions for marketing, sales, and customer service.
- With the addition of SoundBite's market-leading applications, Genesys will enrich its portfolio of cloud-based solutions for marketing, sales and collections departments, and strengthen its ability to address additional user communities across the enterprise.
- The SoundBite applications complement the Genesys cloud-based customer engagement solutions with additional mobile capabilities, including self-service text messaging and mobile marketing capabilities, including mobile coupons, in-store marketing, mobile web sites, and on-package QR codes.