Alcatel-Lucent sells Genesys to private equity firm

Telecommunications company Alcatel-Lucent has sold Genesys, a subsidiary that provides contact centre software and services, to a company owned by the Permira Funds and Technology Crossover Ventures, for a cash sum of US$1.5 billion.

Permira, a European private equity firm, sent Alcatel-Lucent a binding offer for Genesys on 19 October 2011.

The acquisition includes the transfer of the existing business structure of Genesys, approximately 1800 employees, and the Genesys management team, including president and CEO Paul Segre.

Segre had a positive spin on the acquisition.

“We’re now backed by the best in the business in the Permira funds and TCV, and we have the industry’s most unique combination of customers, partners and people to innovate around the customer experience. We are on a singular mission to save the world from bad customer service,” he said.