Today saw yet another acquisition in the contact center space. This one has Genesys purchasing Interactive Intelligence Group Inc. for $1.4 billion.

Both Genesys and Interactive Intelligence provide cloud-based and on-premises contact center solutions. Following the close of the deal, the larger version of Genesys expects to generate $1.3 billion in revenue and have an annual R&D spend of nearly $200 million. Part of its investment will be used to continue to support Interactive Intelligence’s PureCloud, Cloud Communications-as-a-Service and Customer Interaction Center.

As part of the deal with Genesys, Interactive Intelligence shareholders will receive $60.50 per share in cash, a 36 percent premium on the company’s July 28 closing stock price.

“We have been working for the past 22 years to build an outstanding company with innovative, disruptive technology solutions that transform businesses,” said Interactive Intelligence President and CEO Don Brown. “I am confident that our agreement with Genesys, which follows a careful evaluation of strategic alternatives, provides Interactive Intelligence shareholders with immediate and significant value, and will deliver meaningful benefits to our customers, partners and employees.”

The past 16 years have seen much change for Genesys. Alcatel bought Genesys in late 1999 then, in 2011, Alcatel-Lucent divested its holdings in Genesys, selling it to private equity firm Permira Funds. Today Genesys operates as a standalone company.

The announcement today that Genesys plans to buy Interactive Intelligence follows by just one day the news that global investment firm KKR is buying workforce optimization company Calabrio for an undisclosed sum.

And those two deals this week follow a spate of other recent mergers and acquisitions in the customer care space. That included NICE’s acquisition of inContact, and Verint’s purchase of Contact Solutions. NICE and Verint are both leaders in the call center workforce optimization space.