Private equity firm Vector Capital is acquiring Phoenix, Arizona-based customer engagement and workforce optimization company Aspect Software. As part of the agreement, Vector Capital is going to invest over $100 million of equity capital in Aspect’s business. And Aspect’s existing lenders will continue to support the company by providing it with a new credit facility at closing.
“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 Aspect Software’s president and CEO Chris Koziol. “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.”
Aspect works with enterprises to increase transparency between people, processes, and data sources — which helps drive the customer journey. For example, Aspect develops fully native interaction management, workforce optimization, and self-service capabilities within a single customer-engagement center.
Photo Credit: Aspect
There are more than 1.6 million agents using Aspect’s solutions around the world. These agents work for companies like Citizens Financial Group, Southwest Airlines, Ring, and Lidl.
“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,” added Vector Capital Managing Director Andy Fishman. “We believe Aspect is well positioned to capitalize on the tremendous opportunity in the growing Customer Engagement Center market.”
This transaction is subject to customary closing conditions and is expected to close in the first quarter of 2019. Jefferies LLC and DCS Advisory were Aspect’s financial advisors in this transaction. Akin Gump Strauss Hauer & Feld LLP served as Aspect’s legal counsel. And Paul Hastings LLP served as Vector Capital’s legal counsel.