Stock trader monitors market movement 311 (R).
(photo credit: REUTERS/Cheryl Ravelo)
NICE Systems Ltd. has acquired UK Voice of the Customer (VoC) solutions
developer Fizzback Ltd. for $80 million in cash.
NICE said that
the acquisition would enable it to introduce a complete Customer Experience
Management (CEM) solution.
The company expects to close the deal in the
Fizzback’s Software as a Service (SaaS) VoC solution
sends customers’ requests for feedback about a specific interaction or
transaction via mobile, web or social media. The consumer is engaged at the
point of experience, such as the call center, branch, point of sale (POS),
mobile application, or web. The system analyzes the feedback to determine a
relevant response, and it automatically conducts a dialog with the consumer in
natural language rather than in survey format.
generates response rates of up to 50 percent, compared with the industry norm of
less than 10%, because it motivates consumers to provide relevant feedback at
the moment of interaction. Additionally, consumers provide feedback about their
experience rather than only about what was asked in a survey.
than 150 million feedbacks collected annually, Fizzback enables organizations to
better understand their customers’ perceptions, and improve customer
NICE president and CEO Zeevi Bregman commented on the future
of such customer experience solutions.
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“The adoption of and demand for
CEM solutions, at all levels of the organization, including marketing, finance
and operations, is on the rise,” he said. “With the addition of Fizzback, NICE
is expanding the scope of its capabilities of impacting every customer
interaction by introducing a Customer Experience Management solution with the
most complete Voice of the Customer offering. This enables our customers to more
effectively capture, understand and leverage VoC as the foundation to a
crossenterprise CEM strategy.”
Fizzback CEO Rob Keve was also
praiseworthy of the deal.
“Our unique solution has been enabling our
customers to achieve exceptionally high response rates from their customers, and
to receive feedback in real-time,” he said. “We are looking forward to combining
these capabilities with NICE’s real-time, cross-channel analytics to provide
both NICE and Fizzback customers greater access to even broader capabilities
with a more complete VoC solution.”
NICE estimates that the acquisition
will lower its non-GAAP earning per share for the fourth quarter by $0.02-0.03,
but that it will add $20 million to NICE’s non-GAAP revenues in
Fizzback was founded in 2004.
Its customers include British
Telecom (BT), O2, Best Buy Europe, Everything Everywhere, National Express,
Virgin Media, Tesco, and several Tier 1 North American telecom
NICE’s share price rose 0.5% on Nasdaq yesterday to $30.89,
giving a market of $2 billion, but fell 0.4% by mid-afternoon on the TASE today
to NIS 113.50.
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