Hellman to take stake in Genesys for about $900 mln

Hellman & Friedman LLC agreed to invest about $900 million in Genesys, giving the company a near $3.8 billion enterprise value.

As a result of this transaction, Hellman & Friedman will acquire a “substantial” stake in Genesys. However, the company’s original backers, which include Permira and Technology Crossover Ventures, will remain majority shareholders.

Daly City, California-based Genesys provides customer service software to mid and large businesses. It has more than 4,700 customers spread across 120 countries, the statement said. Permira and TCV acquired Genesys for $1.5 billion in early 2012.

Hellman & Friedman’s investment in Genesys comes nearly three months after the private equity firm announced its plans to acquire MultiPlan, a provider of healthcare cost management solutions. Although the financial terms for that deal was not disclosed, some media outlets reported the amount to be $7.5 billion.

Qatalyst Partners provided financial advice to Genesys on the transaction.

Photo: A man poses with dollars, after buying them at a money exchange in Caracas, February 24, 2015. Reuters/Carlos Garcia Rawlins