Listen to this story
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThis audio file is brought to you by 
0:00
0:00
Loading audio file, please wait.
Shares in Interactive Intelligence Group Inc. jumped nearly 20 percent Friday after Reuters reported that the Indianapolis-based software firm was exploring “strategic alternatives,” including a potential sale.
Citing “people familiar with the matter,” Reuters said Interactive Intelligence is “working with boutique investment bank Union Square Advisors LLC on a sale process that has attracted other telecommunications software companies, as well as private equity firms.”
The news service also said no deal was definite.
“We don’t comment on rumors or speculation,” Rachel Faulkner, senior manager of public relations for Interactive Intelligence, wrote in an email to IBJ in response to questions about the report.
Officials from San Francisco-based Union Square Advisors did not immediately reply to a request for comment.
Interactive Intelligence, which makes and services call-center software, has more than 2,100 employees worldwide, including about 1,070 in Indiana. The company was founded by CEO Don Brown in 1994. It launched its initial public offering in 1999.
Shares in Interactive Intelligence were trading at $52.86 at 2:30 p.m. Friday, up 18.9 percent on the day.
Interactive suffered a larger-than-expected loss of $13.3 million in the first quarter, compared with a loss of $3.5 million in the year-ago quarter. The loss missed analyst expectations by a wide margin.
The company posted revenue of $99.3 million in the period, an 11 percent increase from $89.5 million in the first quarter of 2015.
In recent years, the company has been steering customers away from upfront purchases of its legacy "on-premise" products and toward subscriptions for its cloud-based versions.
The shift has dragged down performance in the short term. That's because on-promise customers make large, up-front payments, while cloud customers might spread their payments over five years.
Shares in Interactive Intelligence Group Inc. jumped nearly 20 percent Friday after Reuters reported that the Indianapolis-based software firm was exploring “strategic alternatives,” including a potential sale.
Citing “people familiar with the matter,” Reuters said Interactive Intelligence is “working with boutique investment bank Union Square Advisors LLC on a sale process that has attracted other telecommunications software companies, as well as private equity firms.”
The news service also said no deal was definite.
“We don’t comment on rumors or speculation,” Rachel Faulkner, senior manager of public relations for Interactive Intelligence, wrote in an email to IBJ in response to questions about the report.
Officials from San Francisco-based Union Square Advisors did not immediately reply to a request for comment.
Interactive, which makes and markets call-center software, has more than 2,100 employees worldwide, including about 1,070 in Indiana. The company was founded by CEO Don Brown in 2004.
Shares in Interactive were trading at $52.86 at 2:30 p.m. Friday, up 18.9 percent on the day.
This story will be updated.
Shares in Interactive Intelligence Group Inc. jumped nearly 20 percent Friday after Reuters reported that the Indianapolis-based software firm was exploring “strategic alternatives,” including a potential sale.
Citing “people familiar with the matter,” Reuters said Interactive Intelligence is “working with boutique investment bank Union Square Advisors LLC on a sale process that has attracted other telecommunications software companies, as well as private equity firms.”
The news service also said no deal was definite.
“We don’t comment on rumors or speculation,” Rachel Faulkner, senior manager of public relations for Interactive Intelligence, wrote in an email to IBJ in response to questions about the report.
Officials from San Francisco-based Union Square Advisors did not immediately reply to a request for comment.
Interactive, which makes and markets call-center software, has more than 2,100 employees worldwide, including about 1,070 in Indiana. The company was founded by CEO Don Brown in 2004.
Shares in Interactive were trading at $52.86 at 2:30 p.m. Friday, up 18.9 percent on the day.
This story will be updated.
Please enable JavaScript to view this content.