LivePerson acquires VoiceBase and Tenfold to power scaled Voice AI innovation

Rhea-AI Summary

LivePerson, Inc. (Nasdaq: LPSN) announced on October 27, 2021, the strategic acquisitions of VoiceBase and Tenfold. These acquisitions aim to enhance LivePerson's conversational AI capabilities by integrating VoiceBase's real-time speech recognition and analytics with Tenfold's advanced customer engagement platform.

Combining these technologies is expected to create a unified AI system for customer interactions across various channels, thereby improving customer experience and operational efficiency.

Positive

• Acquisition of VoiceBase enhances speech recognition and analytics capabilities.
• Acquisition of Tenfold allows modernization of customer experience without replacing legacy systems.
• The merger creates a unified AI system, potentially increasing customer engagement and satisfaction.

Negative

• None.

NEW YORK, Oct. 27, 2021 /PRNewswire/ -- LivePerson, Inc. (Nasdaq: LPSN), a global leader in Conversational AI, today announced two major strategic acquisitions: VoiceBase, a leader in real-time speech recognition and conversational analytics; and Tenfold, the world's most advanced customer engagement platform for integrating communication systems with leading CRM and support services.

Three powerful technologies combine to create a unified, AI-enabled system for customer experience.

Through these acquisitions, three powerful technologies combine to create a unified, AI-enabled system for customer experience: VoiceBase's superior speech recognition and analytics capabilities, Tenfold's advanced voice, messaging, and CRM integrations, and LivePerson's industry-leading Conversational AI and asynchronous messaging. Brands can now enable natural, conversational consumer experiences that carry context and continuity across all channels, powered through a single automated voice and messaging desktop experience.

Acquiring VoiceBase and Tenfold accelerates LivePerson's vision to help brands gain complete ownership and visibility over engagements in the channels customers care about, inclusive of voice and messaging. These companies bring voice intelligence and AI technologies to support LivePerson's upcoming voice capabilities within its world-class conversational AI messaging platform.

"Brands want to accelerate their use of Voice and Conversational AI with deep connective tissue into their systems,'' said Rob LoCascio, founder and CEO of LivePerson. "It's my great honor to welcome VoiceBase and Tenfold's experts to the LivePerson family as we build the unified AI system behind 100% of conversations with the world's most innovative brands."

VoiceBase
VoiceBase is a world-class voice analytics platform for the enterprise, built on advanced speech recognition technology, which transforms voice and messaging conversations into easily interpreted data and actionable insights. It works with leading brands like Grubhub, Twilio, Delta Dental, UserTesting, and Slice, and has out-of-the-box integrations with leading telephony and contact-center systems including RingCentral, Genesys, NICE CXone, Avaya, Twilio, and now LivePerson.

Combining VoiceBase's capabilities with LivePerson's Conversational AI gives brands unparalleled visibility into customer intents, sentiments, frustrations, and successes from 100% of conversations across messaging and voice, as well as third-party voice, telephony, or contact center systems. These insights make it easier to improve customer experience, uncover sales opportunities and increase revenue, and understand agent productivity and utilization.

"Eighty-six percent of buyers are willing to pay more for better customer experiences, meaning huge opportunities open up for brands as we combine VoiceBase's speech analytics tech with LivePerson's Conversational Cloud and AI," said Walter Bachtiger, founder and CEO of VoiceBase. "We are thrilled to team up with a trailblazing industry leader that shares our vision for improving conversations through actionable, AI-powered insights."

Tenfold
Tenfold is a leading customer experience integration platform enabling enterprises to modernize customer experience tools without having to replace legacy systems. The chosen partner for leading CRM and voice service providers, Tenfold provides tremendous power in transforming voice networks or contact center providers without impacting day-to-day operations. Its customers include leading brands like Wayfair, TransAmerica, and Sixt.

With Tenfold, LivePerson messaging becomes available to agents anywhere — embedded in a CRM, on the agent's desktop, or in the brand's own integrated systems. As a voice platform-agnostic, blended system, the offering will also provide unparalleled flexibility for brands to work with any voice vendor and complement LivePerson messaging without impacting agent experience and productivity.

"Today marks an exciting day for Tenfold, our employees, and our customers as we join LivePerson," said Jeff Cotten, CEO of Tenfold. "We've solved a difficult challenge in delivering the most relevant data right into every customer interaction, and with LivePerson, we'll expand this model to messaging to deliver a true end-to-end customer experience platform."

For more information, visit www.liveperson.com.

About LivePerson, Inc.
LivePerson makes life easier for people and brands everywhere through trusted Conversational AI. Our 18,000 customers, including leading brands like HSBC, Orange, and GM Financial, use our conversational solutions to orchestrate humans and AI at scale and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. LivePerson has been named to Fast Company's World's Most Innovative Companies list for its leadership in artificial intelligence. For more information about LivePerson (NASDAQ: LPSN), please visit www.liveperson.com.

Contact: Mike Tague, mtague@liveperson.com

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SOURCE LivePerson, Inc.

FAQ

What are the details of LivePerson's acquisitions of VoiceBase and Tenfold?

LivePerson acquired VoiceBase and Tenfold to enhance its conversational AI capabilities, integrating advanced speech recognition and customer engagement technologies.

How will the acquisitions impact LivePerson (LPSN)?

These acquisitions are expected to improve customer experience and operational efficiency, potentially driving revenue growth for LivePerson.

When were the acquisitions of VoiceBase and Tenfold announced by LivePerson?

The acquisitions were announced on October 27, 2021.

What is the strategic importance of LivePerson acquiring VoiceBase and Tenfold?

These acquisitions provide LivePerson with enhanced capabilities in speech analytics and customer engagement, aligning with its goal to create a comprehensive AI-powered customer experience platform.