Verint Acquires Conversocial for $50 Million

Verint has acquired Conversocial for $50 million, enabling it to enhance its customer engagement platform with additional social and messaging channels and conversational artificial intelligence.

The acquisition will expand Verint's support for digital customer engagement with connections to most of the commonly used messaging channels, including Apple Business Chat, Facebook Messenger, Twitter, WhatsApp, and more.

With the expanded Verint Cloud Platform, companies can now do the following:

• Deploy a wide set of conversational channels;
• Use conversational AI to automate personalized communications on customers' channels of choice;
• Orchestrate customer journeys across customers' channels of choice;
• Connect AI-powered knowledge management across all channels; and
• Capture conversation, interaction, and experience data from all channels and apply advanced analytics.

"Supporting boundless customer engagement that goes beyond traditional care channels, we are reimagining what it means to be the customer engagement company for a digital-first world," said Celia Fleischaker, chief marketing officer of Verint, in a statement. "Adding new conversational AI and messaging channels to our digital engagement portfolio is another step in this direction, and we welcome the Conversocial employees to Verint."

"We help brands deliver better customer experiences over messaging channels, while improving brand efficiency and customer satisfaction," said Conversocial CEO Ido Bornstein-Hacohen in a statement. "We are excited to join forces with Verint, a leader in customer engagement to help organizations achieve their digital-first strategies."

Analysts also like the deal. Dan Miller, lead analyst at Opus Research, said, "For more than a decade, Conversocial helped brands add social networks and messaging platforms to their marketing and customer support channels. Verint's clients will now benefit from the combined companies' demonstrated ability to offer AI-infused self-service and assisted service to digital-first customers."