Convergys Corp. has purchased the speech-recognition technology arm of voice communications provider iBasis in a deal valued at $18.5 million, the CRM company said yesterday.
The division, iBasis Speech Solutions, provides advanced speech recognition and interactive voice response system and will boost Convergys’ offerings in these areas to its clients, Convergys said. The deal includes $17 million cash and an additional $1.5 million placed in escrow.
Convergys will gain approximately 130 employees of iBasis Speech Solutions, located in Miami, St. Louis and Reston, VA. The division has about 40 clients.
Headquartered in Burlington, MA, iBasis has clients including AT&T, Telefonica, Sprint and WorldCom. Convergys, Cincinnati, provides inbound call center support as well as billing and employee-care services.