Interactive Intelligence acquires Mumbai-based Customer360 for $10m

US-based software services for customer engagement company Interactive Intelligence Inc. said on Thursday that it has acquired Mumbai-based company Anveshan Tech Solutions Pvt. Ltd that provides its services as Customer360. The deal is estimated to be $10 million, according to two people directly involved in the transaction.

“It was an all-cash deal, but we won’t be able to comment on the size,” said Mitul Thakkar, chief executive officer with the company over the phone. The deal was supported by M&A Connect Program run by Indian Software Products Industry Round Table (iSPIRT), a thinktank for software product companies.

As part of the deal, the entire 32-member team of Customer360 will be a part of Interactive Intelligence and will combine the video, chat and mobile technologies with the company’s Pure cloud services. “The team at Customer360 has built an enterprise-grade platform that enables contact center agents to give the kind of personalized, real-time experience they demand. This platform will add tremendous value to our customer engagement and business communications cloud services,” said Jeff Swartz, vice-president of development for Interactive Intelligence.

Customer360, founded in 2013 by Thakkar, Mayuresh S. Shilotri and Onkar Bhosle, raised $800,000 from angel investors. It provides technology for video chat and in-app chat services to over 1,500 customers including like online real estate company Housing.com (Locon Solutions Pvt. Ltd) and online travel company Yatra Online Pvt Ltd, among others.

This article was first published on Livemint

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.