Performix acquires rival in all-share deal

13 Jun 2003

Dublin-based contact centre software firm Performix Technologies has acquired a US rival in an all-share deal for an undisclosed sum.

Performix, which makes employee performance enhancement software for contact centres, has acquired Cliffstone Corporation, which competes against Performix in its niche market.

The acquisition will net Performix several key customers including American Express and Sprint Communications.

According to analyst firm Saddletree Research, Irish contact centre software firm Performix’s performance optimisation technologies will be a key driver of profitability and growth in the contact centre industry over the next five years, netting the Dublin firm a large slice of a market that will be worth US$228 million by 2007.

Performix’s president and CEO Cathal McGloin expects to see the growth projected by Saddletree for the US mirrored in Europe, with a market value of US$70 million by 2007.

Performix, which was established in Dublin in 1998 by ex-Cap Gemini executive McGloin, has captured market share in the US and the UK call centre industries and its clients include: Cable & Wireless, AT&T, O2, Microsoft, AOL and Chase Manhattan Bank.

According to reports the acquisition target, Cliffstone, had fell upon tough times in the technology market and has recently shed staff.

It is understood that Performix has issued Cliffstone’s shareholders with 5pc of the company’s shares. Dublin-based Performix is understood to have had revenues in the past year of around €100 million.

By John Kennedy