Genesys IPO: private equity owners select underwriters

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Genesys IPO: private equity owners select underwriters

The private equity owners of Genesys have selected underwriters for an initial public offering that could value the call-center technology provider at more than $30 billion, according to people with knowledge of the matter.

Permira and Hellman Friedman are working with Goldman Sachs Group Inc., JPMorgan Chase Co. and Morgan Stanley, amongst other underwriters for a U.S. listing of the company this year.

The owners of the company can choose to remain private or pursue other options, even though a final decision hasn't been made.

Representatives for Permira and Hellman didn't want to comment, as did those for Goldman Sachs, JPMorgan and Morgan Stanley. A spokesman for Genesys, based in Daly City, California, couldn't be reached for comment.

The company was valued at $21 billion in a funding round last month led by Salesforce Ventures. It was backed up by ServiceNow Ventures and Zoom Video Communications Inc., along with BlackRock Inc. and D 1 Capital Partners. The owners of the company have been considering an IPO since last year, according to Bloomberg News.

Genesys helps retailers, software firms and other companies with a wide range of call-center services, from software that handles phone and online inquiries to chatbots that run on artificial intelligence. It has worked with companies such as Microsoft Corp. and PayPal Holdings Inc., according to its website.

It is run by Chief Executive Officer Tony Bates, a technology veteran who previously worked at companies like GoPro Inc., Skype Technologies SA and Cisco Systems Inc.

Permira acquired Genesys from Alcatel-Lucent in 2012, a deal that valued the company at $1.5 billion, according to a statement at the time. Hellman invested $900 million at a valuation of $3.8 billion in 2016.

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