Genesys seeks investment banks for IPO in current year

Spain increases pressure on EU for action on rising energy costs

A final decision hasn’t been made and the company’s owners could elect for the company to remain private or pursue other options.

The private equity proprietors of Genesys have chosen underwriters for an initial public offering that could esteem the call-center innovation supplier at more than $30 billion, as indicated by individuals with knowledge on the matter. Permira and Hellman and Friedman are working with Goldman Sachs Group Inc., JPMorgan Chase and Co. and Morgan Stanley, among different financiers for a U.S. posting of the organization this year, said individuals, who asked not to be recognized because they weren’t approved to speak publicly.

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

December Valuation

The company was valued at $21 billion in a funding round last month led by Salesforce Ventures. ServiceNow Ventures and Zoom Video Communications Inc., also backed it along with BlackRock Inc. and D1 Capital Partners. Its owners have been weighing an IPO since last year, Bloomberg News previously reported.

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

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

Permira acquired Genesys in 2012 from Alcatel-Lucent in 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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