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UCN Closes on the Acquisition of a Leading Automated Survey and Analysis Business15 February 2007
UCN, Inc. (OTC Bulletin Board: UCNN), the leading provider of all-in-one, off-premises contact handling technology services delivered over the UCN VoIP network, today announced it closed on the agreement to acquire a leading hosted call center survey and analysis business, operated under the name of Echo(TM) by Benchmark Portal.
Echo is a customer satisfaction and quality monitoring and measurement system, with Web-based management reporting tools that enable call centers to collect and leverage the voice of the customer and track performance down to the agent level. The Echo business includes a customer base of 23 companies, of which more than half are Fortune 500 companies.
Under the terms of the agreement, the acquisition is comprised of cash, stock and earn-outs. Initial payment was $500,000 in cash and 1,535,836 shares of UCN restricted common stock. Additional earn-outs could be paid in cash and/or stock if the Echo product achieves certain revenue goals. Up to $2 million in earn-outs would be paid based on existing customer recurring revenue retention over three years. Up to $7 million in additional earn-outs would be paid if significant new customer recurring revenue targets are achieved over the next four years.
"The primary excitement for me in this acquisition is the UCN business model, namely its off-premise and on-demand contact center technology solutions," said Dr. Jon Anton, founder and director of Benchmark Portal. "I agreed to take this payout primarily in stock because, based on my 20 years in this industry, I see a huge upside to UCN and its growth opportunities in this market. This product solves one of the primary challenges for contact center executives, and that is how to add mission-critical technology that substantially enhances contact center performance while reducing operational cost without using precious corporate capital. In my opinion, UCN only has to get a small fraction of the $5.4 billion dollar contact center market to be very successful."
Said Paul Jarman, UCN CEO: "With this announcement, combined with our intended purchase of ScheduleQ, UCN enters the fast growing $1 billion workforce optimization market. We become the first on-demand provider to offer unified technology for contact distribution and workforce optimization, enabling us to address the majority of the $5.4 billion market."
About Dr. Jon Anton and the Center for Customer-Driven Quality(TM) at Purdue
Dr. Jon Anton is an Adjunct Professor at Purdue University, the research director at the Center for Customer-Driven Quality(TM) at Purdue and director of Benchmark Portal. The Center for Customer-Driven Quality was founded by Dr. Anton at Purdue University in 1995. The Center focuses on industry-sponsored research and training in all aspects of customer service with a special emphasis on the customer contact center. Dr. Anton has assisted over 400 companies in improving their customer service strategy and delivery.
About UCN, Inc.
UCN (OTC Bulletin Board: UCNN) is the leading provider of all-in-one, off-premises contact handling services that improve the customer contact experience and the productivity of those handling the contacts. InContact(R) includes an integrated suite of core contact handling applications, including contact routing, interactive menus, database integration, automated surveys, reporting, monitoring, recording, administration and workforce management applications. InControl(TM) is a unique, rapid application development tool that enables inContact customers to develop highly flexible, customized business contact handling processes in record time. To learn more about UCN visit http://www.ucn.net.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding projected results of operations and management's future strategic plans. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
The risks and uncertainties referred to above include, but are not limited to, risks associated with our business model; our ability to develop or acquire, and gain market acceptance for new products, including our new sales and marketing and voice automation products, in a cost-effective and timely manner; the gain or loss of key customers; competitive pressures; our ability to expand operations; fluctuations in our earnings as a result of the impact of stock-based compensation expense; interruptions or delays in our hosting operations; breaches of our security measures; our ability to protect our intellectual property from infringement, and to avoid infringing on the intellectual property rights of third parties; and our ability to expand, retain and motivate our employees and manage our growth. Further information on potential factors that could affect our financial results is included in our Annual Report on Form 10-K, quarterly reports on Form 10-Q, and in other filings with the Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.
Source: prnewswire
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