SoundHound AI completes LivePerson acquisition, names new CFO

SoundHound AI, a Santa Clara, Calif.-based company, has successfully completed its acquisition of LivePerson, Inc. The acquisition also includes the appointment of John Collins as the Chief Financial Officer of the newly formed entity. The transaction adds a vast customer base, encompassing 25 Fortune 100 companies, and a substantial intellectual property portfolio of over 750 patents to SoundHound AI.

LivePerson's digital messaging infrastructure will be seamlessly integrated into SoundHound's OASYS platform, resulting in an all-encompassing customer engagement solution across various channels, including voice, web, mobile, SMS, and social media. The merger signifies a critical moment in the burgeoning age of agentic AI, according to Keyvan Mohajer, SoundHound AI's CEO and Co-Founder.

The combined company boasts a debt-free balance sheet after LivePerson retired its outstanding debt and aims for over $500 million in future revenue from the existing customer base. John Collins, the newly appointed CFO, brings an impressive 15-year track record in enterprise software and finance. Under his leadership, he transformed LivePerson from a situation where it was burning over $100 million annually to generating positive free cash flow within a year, executing cost-reduction programs worth over $200 million.

Collins' primary focus will be on driving seamless operational integration, enforcing cost discipline, and accelerating the company's path towards sustainable, high-margin profitability. LivePerson common stock will no longer be traded on the Nasdaq stock market following the transaction's completion.