Permira H1 20b
Image Source: Genesys - Permira

Permira H1 20b, Genesys and Permira are seeking a $20B Valuation in H1 2022, eyeing IPO

The cloud-based call center provider Genesys (including Permira) is mulling an IPO as the company seeks a valuation of $20 billion in H1 2022. [permira h1 20b]

Key Takeaways:

  • Genesys (including Permira) aims to have a $20 billion valuation in H1 2022 through an IPO
  • Permira aims to sell its shares through a public offering, taking advantage of the increasing value of listed companies in the stock market
  • Talks with investment banks Morgan Stanley, JPMorgan Chase & Co, and Goldman Sachs Inc. were held in 2022 but no development has been made regarding an IPO as of yet
  • Genesys provides call center services to big companies, including Microsoft and PayPal
  • Genesys has raised $1.5 billion in funding from 9 investors across 4 rounds

Genesys has a number of private equity owners in the company, and Permira is one of them. According to some insiders who don’t want to be mentioned, Genesys’ private equity owners are mulling a public IPO of the cloud-based call center company and are hoping the company would be valued at a staggering $20 billion after the public offering. [permira h1 20b]

The equity owners, specifically Hellman & Friedman and Permira, were in talks with the company’s advisor and executives about the public US listing of Genesys. According to the hidden names who provided the information to Bloomberg, the move may have had completed in H1 of 2022.

At the time of the writing in October 2021, the company has not made a final decision and the unknown people who provided the information say that the board of advisory may or may not decide to go public. When the rumor first came out in Q3 of 2021, no executive or company representative from Genesys or the private equity owners decided to come forward and comment on the matter.

In 2022, the company did look for investment banks to forward with the move of public offering via an IPO. Specifically, they chose  Morgan Stanley, JPMorgan Chase & Co, and Goldman Sachs Inc. along with some other names to go for a public offering. Genesys said the company might go for an IPO in H1 2022, However, the company hasn’t gone forward with the move and there is no development regarding an IPO as of yet. [permira h1 20b]

For the past year, Permira has been preparing to sell its shares through a public offering. The reason behind this decision is that the value of companies that are listed on the stock market has been increasing quickly and Permira aims to take advantage of this opportunity. If they do that, the company can be valued at a whopping $20B provided they make the move in H1 2022.

What’s interesting is that Permira isn’t the first to look at things that way. There are many portfolio companies that have either gone public or planning to do so in the near future. Exclusive Networks SA (a cybersecurity firm), Inc., and shoemaker Dr. Martens Plc are some suitable examples. 

Genesys Financial Profile

Funding Round Date Lead Investor Capital Raised
Private Equity Round December 6, 2021 Salesforce Ventures $580 Million
Private Equity Round July 22, 2016 Permira $900 Million
Private Equity Round February 1, 2012 Banneker Partners
Venture Round January 1, 2012

Genesys raised $1.5B from 9 investors in 4 funding rounds. The latest investment was in Dec 2021, through Private Equity, with Zoom and Salesforce Ventures as the latest investors. [permira h1 20b]

About Genesys

Genesys is a call center services provider and deals with a lot of big companies regarding such services. Microsoft and PayPal are the biggest clients in its portfolio. Genesys uses the cloud to offer its services, they handle operations such as customer services via calling agents and AI-powered chatbots. 

Permira purchased Genesys from Alcatel-Lucent for $1.5 billion in 2012, and in 2016, the company received $900 million from Hellman & Friedman, that valued Genesys at $3.8 billion after the funding. In 2023, Genesys still hasn’t gone public as the talk with the aforementioned banks were only talks. [permira h1 20b]

Read more:

Meta Qualcomm Brasiliainformation, Meta Struggling to Develop its Brasilia Chip, Qualcomm Keeps Leading [The Information]