LivePerson, Inc. (LPSN)

LivePerson was founded in 1995 by Robert LoCascio and is headquartered in New York City. It began as an early provider of online chat and live engagement tools that let website visitors speak with company representatives, and it went public on the Nasdaq in April 2000 under the ticker LPSN. Over the years it moved from simple web chat toward messaging-based customer service delivered through mobile and in-app channels.

The company's main product was the Conversational Cloud, a cloud platform that allowed brands to interact with consumers through messaging applications, voice and web channels, supported by automation, bots and artificial intelligence. Customers included large enterprises across financial services, telecommunications, retail and other industries, which used the platform to handle customer service and sales conversations. LivePerson also sold professional services and offered outcome-based pricing arrangements, and it worked with partners in business process outsourcing and digital engagement.

In the years before the transaction, LivePerson faced pressure from slowing revenue, operating losses and a heavy debt load that included convertible notes due in the second half of the decade. Its share price fell sharply, and the company disclosed concerns about meeting Nasdaq's minimum bid price requirement. It carried out cost reductions and explored strategic alternatives, while the broader market for customer-service automation shifted toward generative AI offerings from larger competitors.

In 2026 LivePerson agreed to be acquired by SoundHound AI, a voice artificial intelligence company listed on Nasdaq. LivePerson stockholders approved the transaction at a special meeting, and the parties completed the deal on September 4, 2026. Under the merger agreement each share of LivePerson common stock converted into the right to receive 0.4673 shares of SoundHound common stock. Holders whose shares were held through the Tel Aviv Stock Exchange, where LivePerson had also been listed, received cash of $3.31 per share instead. Outstanding options and warrants were cancelled without consideration.

The closing was combined with a restructuring of LivePerson's notes. Holders of its First Lien Convertible Senior Notes due 2029 received about 25.1 million SoundHound shares and $2.5 million in cash, and holders of its Second Lien Senior Subordinated Secured Notes due 2029 received about 11.8 million shares and $3.3 million in cash. In total roughly 36.9 million SoundHound shares and about $5.8 million in cash were issued to noteholders.

With the merger complete, LivePerson became a subsidiary of SoundHound AI. The company filed a Form 25 with the SEC on September 4, 2026, to remove its common stock from listing and registration on Nasdaq, and options on the stock were delisted by U.S. options exchanges at about the same time. LivePerson's former holders now hold SoundHound shares, which continue to trade on Nasdaq.