Processing .....please wait.. 
The article has been forwarded.... 
Concerto merges with Melita for $145 million
By siliconindia staff writer
|
Thursday, 13 November 2003, 20:30 IST
NEW DELHI: In an all cash deal, US based Concerto Software, provider of customer interaction management (CIM) solutions has merged its operations with US based Melita International, a contact center effectiveness focussed company for a consideration of approximately $145.2 million.
Under the terms of the merger agreement, Concerto Software will combine with Melita and the combined company will operate under the name of Concerto Software. "As a direct result of this merger, the company will strengthen its presence in the global CIM market and provide significant benefits to its worldwide customer base of more than 1,800 customers. We consider India as our hub for this whole region and we would continue to focus on the country in a major way," informed Concerto president and CEO James D Foy at a teleconference with the Indian media in Delhi.
Golden Gate Capital and Oak investment partners, both private equity investment firms and majority owners of Melita, have provided the financing for the transaction. Post merger the worth of the company is penned at around $150 million.
Reiterating the importance of the companys Indian operations, Foy stated that the Indian team of 30 professionals will be increased according to the market dynamics and India will be the focal point for the companys marketing efforts in the emerging markets of countries like UAE, Bahrain and the Middle east.
"Last year we did more than $ five million of revenues from India and this year we are looking at a growth of more than 50 percent. During the last year we have added about 20 new customers in the sub-continent. Our Indian clients like Daksh and Spectramind are going for multi location operations and that is a good sign for the maturity of the market," he added.
Informing the media about the market conditions in the middle east, Foy said that there are not many call centers active in that region but the SME segment is full of activity and the company will be targeting that segment for its set of products and offerings.
As of now the company has four flagship products EmsemblePro, Ensemble, Unision and LYRICall, but as a result of this merger the company is going to add two more products Melita Conversation and Melita SoftMatrix from the portfolio of Melita.
