Proficient was acquired by their main competitor, Liverperson, in July 2006. By this point Geneva (and subsequently the UK Proficient operation created and run by Geneva) had sold the technology to Citibank, HSBC, Barclays, RBS, HBOS, Nationwide and Alliance & Leicester. The technology had become the de facto standard for UK banking and these sales were completed despite competition from Liveperson - Proficient's NASDAQ-listed, larger and better established rival.
By the end of the earn-out on Proficient's acquisition, Geneva's contribution was over $1m annual recurring revenue which represented 34% of the company's overall revenue.
To see what Proficient says about Geneva Partners click here. |