Spectrum Equity Investors and Geocapital Partners are highly commended for their December 1999 investment in Geneva Technology, which was sold to Convergys Corporation in the spring of 2001. Spectrum Equity Investors and Geocapital Partners acquired a 25 per cent stake in Geneva Technology having invested between them $20 million. Although the stock price of Convergys Corporation was some $39.35 per share on March 5, 2001 when the sale was announced that share price, while dropping has maintained around the low $30 per share giving the two investors a healthy return on their 16 month investment. Geneva Technology was a ten-year old company operating in the convergent billing software space when it bought in external funding for the first time and already boasted some $15 million of revenue. The all share deal, from which the investors have since exited
(at over $30 a share), valued Geneva Technology at $692 million at the $39.35 share price.