Mattersight To Be Acquired By NICE

Mattersight Corporation (NASDAQ:MATR), the pioneer in personality-based software applications announced that it has entered into a definitive agreement to be acquired by an affiliate of NICE Ltd, the leading provider of cloud and on-premises enterprise software solutions.

As quoted in the press release:

Under the terms of the agreement, NICE will launch a tender offer to purchase all outstanding shares of Mattersight’s common and preferred stock, pursuant to which holders of Mattersight’s common stock will receive $2.70 per common share in cash and holders of Mattersight’s outstanding preferred stock will receive $7.80 per share in cash, plus accrued and unpaid dividends as of immediately prior to the closing. The per share purchase price of Mattersight’s common stock represents a 26% premium to the per share closing price of Mattersight’s common stock on the Nasdaq Global Market on April 25, 2018, the last trading day prior to the announcement of the transaction, and a 27% premium to the 30-day weighted-average price per share of Mattersight’s common stock.

“Our solutions drive significant business value for some of the most recognized brands on the planet, but we’ve lacked the resources to rapidly accelerate our growth. This transaction creates a great opportunity for Mattersight’s customers and employees, as NICE brings complementary products, a substantial distribution engine and a strong brand that allow us to accelerate our go-to-market strategy” said Kelly Conway, CEO of Mattersight. “We are excited to work with NICE to bring our personality-based applications to the global market and continue innovating with our current and future customers.”

Mattersight expects the integration of NICE analytics powered by Nexidia and Mattersight’s behavioral analytics technology and domain expertise will allow organizations to enjoy the market’s most advanced analytics in the cloud, driving personalization and smart connections in real time.

“Analytics is the cornerstone of NICE’s strategy of creating a new customer service paradigm with CXone and Adaptive WFO,” said Barak Eilam, CEO of NICE. “We were very impressed with Mattersight’s innovative technology and domain expertise, as well as by their long standing strategic relationships with some of the largest customer service organizations. This acquisition reaffirms our commitment to delivering analytics in the cloud and to be at the forefront of the analytics market.”

The Board of Directors of Mattersight has approved the transaction. The transaction is expected to close in the second half of 2018, subject to completion of the tender offer, as well certain regulatory approvals and other customary closing conditions. The transaction will be funded from NICE’s cash on hand.

Union Square Advisors is serving as the exclusive financial advisor, and Cooley is serving as the legal advisor, to Mattersight.

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