dc.internet.com/news/article.php/1432731
By boston.internet.com Staff July 25, 2002 Narrowing its focus and gaining cash, iBasis, Burlington, Mass., provider of Internet-based voice communications, has sold its Speech Solutions business to Convergys, a Cincinnati outsourcer of billing and customer service. Included in the $17 million transaction (which could nearly double if the unit meets earnings milestones) are Speech Solutions data centers, customers, customer prospects, and approximately 130 employees based in Reston, Va. The Speech Solutions group develops and hosts interactive voice response (IVR) and advanced speech recognition (ASR) software for about 40 large telecommunications and corporate customers. As a result of the sale, and a recent 18 percent workforce cut in the core Internet telephony business, iBasis has reduced its workforce to 215 employees. "These actions have accomplished two important goals: enabling iBasis to focus exclusively and more efficiently on our core business of wholesale international telephony, and providing additional cash to run the business," said Ofer Gneezy, president and CEO of iBasis. For Convergys, the deal bolsters its facilities and technology. The company employs more than 45,000 people in 47 customer contact centers, data centers and other offices in the United States, Canada, Latin America, Europe, Israel, and Asia. The pickup "complements our position as a market leader in customer management solutions by adding capabilities in advanced customer self-service application development and hosting," said Jim Orr Convergys chairman, president and CEO. |