PE-backed LiveVox and Crescent Capital SPAC to merge

LiveVox, a cloud-based provider of customer service and digital engagement tools, has agreed to merge with Crescent Acquisition Corp, a blank check company formed by Crescent Capital.

LiveVox, a cloud-based provider of customer service and digital engagement tools, has agreed to merge with Crescent Acquisition Corp, a blank check company formed by Crescent Capital. When the deal closes, LiveVox will go public and trade on the NASDAQ under the ticker symbol “LVOX.” LiveVox is backed by Golden Gate Capital.


SAN FRANCISCO–(BUSINESS WIRE)–LiveVox, a leading cloud-based provider of customer service and digital engagement tools, today announced it has entered into a merger agreement with Crescent Acquisition Corp (NASDAQ: CRSA), a publicly-traded special purpose acquisition company. Upon closing of the transaction, LiveVox will become a publicly traded company, and its common stock will be listed on NASDAQ under the symbol “LVOX”.

Founded in 2000, LiveVox is a next-generation contact center platform that seamlessly unifies omnichannel communications, CRM, and WFO functionality into a single cloud-based customer engagement solution. Facilitating over 14 billion interactions annually, LiveVox simplifies the customer engagement process by unifying all conversations and interactions into a single pane of glass, creating a seamless transition for agents across communication mediums. The Company distinguishes itself from its closest competitors by reducing or eliminating the greatest friction points that prospective customers face, including security, compliance, and data integration. By removing these barriers, LiveVox makes the AI and digital applications customers want easy to implement. The Company expects to generate $129 million of revenue in 2021, approximately 26% higher than its 2020 revenue.

“We capitalize on the growing need for support agents to provide an unparalleled customer experience with our unique solutions platform,” said Louis Summe, co-founder & CEO of LiveVox, who will continue to lead the business post-transaction. “Our full-service offering allows our clients to provide their customers with the exceptional relationship management they deserve along with the safety, security and ease of integration they have long come to expect.”

“We believe that LiveVox’s state-of-the-art software, its visionary management and its broad enterprise customer base position it perfectly to accelerate its growth with the visibility and capital from this transaction,” Robert Beyer, Executive Chairman, and Todd Purdy, CEO of Crescent Acquisition Corp, jointly said. “Global conditions have pushed digital transformation to the forefront, and customer-facing businesses are anxious for a decisive leap towards a unified, cloud-based solution. We are also fortunate to have found such an exciting growth opportunity within the portfolio of an industry-leading private equity firm, Golden Gate Capital, who will remain a significant shareholder and partner and continue to guide the Company’s next level of substantial growth in the public markets.”

“We have been incredibly impressed by LiveVox’s expansive growth since we invested in the Company seven years ago,” said Rishi Chandna, Managing Director of Golden Gate Capital. “LiveVox’s meaningful investment in its product portfolio and focus on building out the Company’s sales and marketing efforts has transformed the business into a leading pure-play CCaaS provider with a larger total addressable market. We are excited to continue working closely with LiveVox, alongside our new partner in Crescent, to support the Company’s management team in delivering mission critical, easy-to-deploy contact center software to enterprise customers.”

Transaction Overview
The transaction has been unanimously approved by the Board of Directors of Crescent Acquisition Corp, as well as the Board of Directors of LiveVox and is subject to the satisfaction of customary closing conditions, including the approval of the shareholders of Crescent Acquisition Corp.

The combined entity will receive approximately $250 million from Crescent’s trust account, assuming no redemptions by Crescent’s public stockholders, as well as $75 million in proceeds from a group of institutional investors and $25 million from a forward purchase agreement entered into by Crescent Capital Group Holdings LP.

Upon completion of the transaction and assuming no redemptions, Golden Gate Capital and various current minority owners of LiveVox expect to hold approximately 59% of the newly public company, subject to various purchase price adjustments. Of the total approximately $350 million of cash from Crescent and the other institutional investors, up to $220 million will be used to purchase a portion of the equity owned by existing LiveVox shareholders, an anticipated $100 million will be added to LiveVox’s balance sheet to be used to accelerate and enhance the Company’s commitment to providing a superb customer experience through its next-generation contact center platform, and the remainder will be used to pay transaction expenses.

Upon the closing of the transaction, Crescent Acquisition Corp’s name will be changed to “LiveVox Holdings, Inc.”

Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Crescent Acquisition Corp with the Securities and Exchange Commission (“SEC”) and available at

Conference Call Information
Crescent Acquisition Corp’s investor conference call and presentation discussing the transaction can be accessed by visiting A telephone replay of the call is available by dialing 412-317-6671 and entering passcode 14296511. A transcript of the call will also be filed by Crescent Acquisition Corp with the SEC.

Credit Suisse is acting as lead placement agent, financial advisor and capital markets advisor and BofA Securities, Inc. is acting as private placement agent and capital markets advisor for Crescent Acquisition Corp. Goldman Sachs & Co. LLC, Jefferies Group LLC and Stifel Financial Corp. are serving as financial advisors to LiveVox. Kirkland & Ellis LLP is acting as legal counsel to LiveVox and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Crescent Acquisition Corp.

About LiveVox
LiveVox is a next-generation contact center platform that powers more than 14 billion transactions a year. By seamlessly integrating omnichannel communications, CRM, and WFO, LiveVox delivers exceptional agent and customer experiences, while helping to reduce compliance risk. LiveVox’s reliable, easy-to-use technology enables effective engagement strategies on channels of choice to help drive contact center performance. Founded in 2000, LiveVox is headquartered in San Francisco with offices in Atlanta, Denver, St. Louis, Colombia, and Bangalore. To learn more, visit

About Crescent Acquisition Corp
Crescent Acquisition Corp is a Special Purpose Acquisition Company formed by Crescent Capital, Robert D. Beyer and Todd M. Purdy for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets.

About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with over $17 billion of committed capital. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable software and services investments sponsored by Golden Gate Capital include Infor, BMC, Neustar, Ensemble Health Partners, Vector Solutions, and 20-20 Technologies.