Salesforce, ServiceNow Invest $1.5 Billion in Genesys (1)

Salesforce Inc. and ServiceNow Inc. are investing about $750 million apiece in Genesys Cloud Services Inc. in a rare instance of enterprise software rivals backing the same company.

Genesys makes AI-powered software for customer contact centers. The $1.5 billion investment was disclosed in a statement that confirmed an earlier Bloomberg News report.

Genesys will be valued at roughly $15 billion, according to people familiar with the matter who asked not to be named because it was private. Representatives for the companies declined to comment on the valuation.

The company said it would use the proceeds to buy back shares from ...