newsfilter
← Latest News
GlobeNewswire·

SoundHound AI Completes Acquisition of LivePerson, Creating a World-Leading Omnichannel Conversational AI Powerhouse

  • SoundHound AI, Inc. (NASDAQ: SOUN) has officially completed its acquisition of LivePerson, Inc., expanding its customer base to include 25 Fortune 100 companies.
  • The combined entity now possesses an IP portfolio of over 750 patents by integrating LivePerson's digital messaging infrastructure with SoundHound's proprietary voice agentic AI.
  • LivePerson's platform will be integrated into OASYS, SoundHound's self-learning Orchestrated Agent System, to create a unified end-to-end solution operating across voice, web, mobile, SMS, & social channels.
  • The transaction resulted in a strong, fully debt-free combined balance sheet, positioning the company to target over $500M in future revenue from existing customers.
  • John Collins has been appointed as the new Chief Financial Officer to accelerate the path to sustainable profitability while managing capital allocation.
  • Collins brings over 15 years of experience, including previous leadership roles at LivePerson, where he drove cost optimization exceeding $200M & transformed the company from $100M annual cash burn to positive free cash flow.
  • LivePerson common stock will cease trading on the Nasdaq market following the close of the transaction.
  • Functional integration is underway to deliver unified omnichannel solutions, enhanced AI capabilities via OASYS, & faster resolution times for enterprise clients.
  • The merger aims to capitalize on Gartner's forecast that enterprise spending on agentic AI software will reach $985 billion by 2030.
  • LivePerson's CEO John Sabino stated the combined entity offers an unparalleled value proposition for enterprises modernizing contact centers & digital touchpoints.