Vector Capital to buy Aspect Software
Aspect Software 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.
Headquartered in Phoenix, Arizona, Aspect is a call centre, customer engagement, workforce optimisation and self-service solutions provider.
Under the terms of the agreement, Vector Capital will invest more than $100 million (R1.4 billion) 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," said 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."
Andy Fishman, MD at Vector Capital, says the company believes Aspect is well positioned to capitalise on the tremendous opportunity in the growing customer engagement centre market.