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.