Interactive Intelligence, a global provider of unified IP business communications solutions, has completed its previously announced holding company reorganization. A new Indiana corporation, Interactive Intelligence Group Inc., or ININ Group, has replaced Interactive Intelligence Inc. (“Interactive Intelligence”) as the publicly held corporation.
At the market open today, July 1, 2011, the shares of ININ Group common stock will commence trading on the Nasdaq global select market under the ticker symbol “ININ” under the new CUSIP number 45841V109. Future filings by the company with the Securities and Exchange Commission will be filed by ININ Group.
The purpose of the reorganization is to provide the company with enhanced strategic, operational, and financing flexibility; improve its ability to determine financial results and profitability of different lines of business; and better manage tax expenses and exposure to liabilities. The business operations, directors, and executive officers of the company will not change as a result of the reorganization.
As a result of the reorganization, Interactive Intelligence has become a wholly-owned subsidiary of ININ Group. In addition, Interactive Intelligence shareholders have automatically become shareholders of ININ Group on a one-for-one basis, holding the same number of ININ Group shares and the same ownership percentage after the reorganization as they held immediately prior to it.
The reorganization was generally tax-free for Interactive Intelligence shareholders. The reorganization was approved at Interactive Intelligence’s annual meeting of shareholders on June 10, 2011.