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Interactive Intelligence to buy Carolina software developer

April 18, 2014
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Interactive Intelligence Inc. has signed a letter of intent to buy Durham, N.C.-based OrgSpan Inc., a software developer majority owned by Interactive founder and CEO Don Brown, and co-founded and led by former Interactive developer Jeff Swartz.

The deal was announced in a statement by the companies on Thursday.

OrgSpan employees will be integrated into Interactive Intelligence, but remain in Durham, the statement said. OrgSpan has 40 workers, according to the News & Observer of Raleigh, N.C.

OrgSpan makes cloud-based software designed to improve call-center communications. Another OrgSpan product focuses on improving employee collaboration.

Financial terms were not disclosed, but Interactive said the deal would not materially impact 2014 revenue and financial results. The deal is expected to close within 30 days.

Interactive shares exploded from $30 in late 2013 to nearly $80 in March before pulling back to about $70 in recent days.

Profit in 2013 was $9.5 million, up from $906,000 a year earlier, as its expansion from on-site call centers into cloud-based services began to pay off.

About 1,200 of the Interactive's 2,000 workers are in Indianapolis, at its headquarters on the northwest side.

 

 

 

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