In the deal, vector Capital would make an investment in Aspect Software.
Aspect Software, Inc., an American multinational call center technology and customer experience company, recently announced to enter into a definitive merger agreement to be acquired by Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses.
According to the deal, Vector Capital agrees to invest more than $100 million of equity capital in Aspect’s business, while Aspect’s existing lenders will continue to support the company by providing Aspect with a new credit facility at closing. Moreover, the transaction is subject to standard and customary closing conditions including the receipt of regulatory approvals and is reported to be closing in the first quarter of 2019.
The investment aims to continue Aspect’s strategic transformation
Chris Koziol, President and Chief Executive Officer, Aspect, stated, “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.” He added, “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, a Managing Director, Vector Capital, said, “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.” “We believe Aspect is well positioned to capitalize on the tremendous opportunity in the growing Customer Engagement Center market,” Andy added.
Vector’s investment to accelerate Aspect’s growth
Sandy Gill, a Principal, Vector Capital, stated, “We have always been impressed by Aspect’s strong business and leadership team,” he added, “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.”
Jefferies LLC and DCS Advisory acted as Aspect’s financial advisors. Aspect’s legal counsel was Akin Gump Strauss Hauer & Feld LLP. Vector Capital’s legal counsel was Paul Hastings LLP.
Vector Capital completes the acquisition of Host Analytics
Vector Capital lately announced the successful completion of its acquisition of Host Analytics Inc., a leading provider of cloud-based enterprise performance management (EPM) solutions. David Fishman, Vector Capital, quoted, “We are pleased to complete this transaction and look forward to supporting Host Analytics, which has a tremendous opportunity in the growing cloud enterprise performance management space.”