NEW YORK (TheStreet) -- Shares of Interactive Intelligence (ININ) were jumping 5.58% to $59.83 on heavy trading volume mid-Wednesday morning after the Indianapolis-based cloud services company announced it had entered into a definitive agreement to merge with privately-owned Genesys.
Genesys, a San Francisco-based customer experience platform company, will acquire Interactive Intelligence for about $1.4 billion, according to a company statement.
Interactive shareholders will receive $60.50 per share in cash in the deal.
The merger will grow Genesys' ability to power customer experiences at greater scale and through either in-person or cloud channels.
"The combination of Genesys and Interactive Intelligence provides a complete portfolio to address all market segments by combining Interactive Intelligence's PureCloud, Cloud Communications-as-a-Service (CaaS), and Customer Interaction Center (CIC) with Genesys' offerings," Interactive Intelligence CEO Don Brown said in a company statement.
The deal is expected to close by the end of the year.
More than 1.76 million shares of Interactive Intelligence have traded so far today vs. the 30-day average of 214,000 shares.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C-.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive.
You can view the full analysis from the report here: ININ