Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

On October 18, 2021, the Company closed on an acquisition of VoiceBase, Inc., a voice analytics platform operating in the United States. VoiceBase, Inc. is a leading provider of speech analytics to the enterprise. The purchase price was approximately $120.0 million and consisted of cash, stock, and a contingent earn-out component.

On October 25, 2021, the Company closed on an acquisition of Callinize Inc., dba Tenfold ("Tenfold"), a leading customer experience integration platform operating in the United States. Tenfold was built to integrate the world’s leading communication service providers with the leading CRM and support systems. The purchase price was approximately $133.0 million and consisted of cash, stock, and a contingent earn-out component.

The transactions are still being evaluated but most likely will be accounted for under the purchase method of accounting and, accordingly, the operating results of VoiceBase, Inc. and Tenfold will be included in the Company’s consolidated results of operations from the date of acquisition. Due to the timing of these transactions, the initial accounting for the business combinations is incomplete and a preliminary allocation of purchase consideration cannot be estimated. However, the Company does anticipate that a significant portion of the purchase price will be allocated to goodwill and acquired identifiable intangible assets for both transactions.