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Midvale-based inContact, which develops call-center software and tools to measure call-center effectiveness, has entered into a multimillion-dollar distribution agreement with Siemens Enterprise Communication of Munich.
The deal calls for Siemens to be the exclusive distributor of inContact products in Europe, the Middle East and Africa. It also means the Germany-based firm will invest nearly $24 million in inContact's restricted common stock at $3.32 a share.
Plus, Siemens Enterprise CEO Hamid Akhavan will join inContact's board of directors.
The distribution arrangement commits Siemens to pay a minimum of $15 million of net software revenue to inContact over two years, with $5 million committed in 2012 and $10 million committed in 2013, according to a statement issued Thursday.
Siemens Enterprise, with a presence in more than 100 countries, is a joint venture of Siemens AG and the Gores Group, a provider of voice, network infrastructure and security solutions and services.