Aspect Software, a provider of fully integrated customer engagement, workforce optimisation, and self-service omni-channel solutions, it has entered into a definitive merger agreement to be acquired by Vector Capital, a private equity firm specialising in transformational investments in established technology businesses.
Under the terms of the agreement, Vector Capital will invest more than $100-million of equity capital in Aspect’s business, and Aspect’s existing lenders will continue to support the company by providing Aspect with a new credit facility at closing.
The transaction is subject to standard and customary closing conditions including the receipt of regulatory approvals and is expected to close in the first quarter of 2019.
“We are excited to partner with Vector Capital as we continue to accelerate Aspect’s strategic transformation, execute on our growth plans and refine our go-forward strategy,” says Chris Koziol, Aspect’s president and CEO.
“Vector Capital brings substantial operational and financial resources as well as a proven track record of helping enterprise software companies invest in new products, accelerate innovation, and build market leading businesses.”
“We are thrilled to partner with the team at Aspect Software, which has established, market-leading product offerings and an exceptional blue-chip customer base,” says Andy Fishman, an MD at Vector Capital. “We believe Aspect is well positioned to capitalise on the tremendous opportunity in the growing Customer Engagement Centre market.”
“We have always been impressed by Aspect’s strong business and leadership team,” adds Sandy Gill, a principal at Vector Capital. “We look forward to backing Aspect during its next stage of growth and helping the Company accelerate its development through both organic initiatives and strategic acquisitions.”