LivePerson Adds Island Data Assets
New York-based online customer interaction service provider LivePerson Inc. on Monday acquired the Express Response hosted knowledgebase product and customers from San Diego-based Island Data Corp., a privately-held provider of hosted customer support software solutions, for approximately $3.0 million.
LivePerson will issue approximately 500,000 shares of its common stock to Island Data and pay the remaining $0.3 million in cash. The Express Response services are expected to complement LivePerson's current product offering of chat, email and knowledge base services.
“There are significant cross-selling opportunities we hope to leverage through this transaction. Many of Island Data's clients can benefit on day one from real-time email and chat sales and marketing capabilities built within the LivePerson solution,” said Robert LoCascio, CEO of LivePerson. “LivePerson's traditional clients will also benefit from a more in-depth knowledge base capability across the entire platform.”
Island Data's customer base, which will be transferred to LivePerson immediately, includes Global 2000 product, service and software firms including Adobe, Canon U.S.A., Cox Communications and Real Networks. It is expected to increase LivePerson's current monthly revenue by 8 percent.
“We have efficiently integrated acquired customer bases in the past with great success,” said Tim Bixby, President and CFO of LivePerson. “This is just the kind of acquisition that enables us to leverage a strong development team, jumpstart a new revenue stream and immediately increase cash flow. We continue to aggressively look for similar opportunities.”
LivePerson has been recognized as a Top 25 Provider on the ASPnews.com Top 50.
