Vector Capital has closed its previously announced acquisition of Aspect Software Inc, a provider of customer engagement, workforce optimization and self-service solutions. No financial terms were disclosed; however, as previously reported by PE HUB, Vector agreed to invest more than $100 million in Aspect’s business. Jefferies LLC and DCS Advisory served as financial advisers to Aspect on the deal.
SAN FRANCISCO–(BUSINESS WIRE)–Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced the successful completion of its acquisition of Aspect Software, Inc. (“Aspect”), a leading provider of fully integrated customer engagement, workforce optimization, and self-service omni-channel solutions.
In connection with the closing, Patrick Dennis, Operating Executive at Vector Capital, has been named President and Chief Executive Officer of Aspect, and Chris DeBiase has been named Chief Financial Officer.
As an Operating Executive at Vector Capital, Mr. Dennis led the Aspect acquisition process alongside Vector’s investment team. He has a twenty-year track record of leadership in the technology sector, including serving as President and CEO of Guidance Software and has held senior executive roles at EMC and Oracle.
Mr. DeBiase brings 20 years of software and technology industry experience to Aspect, having served as a CFO for a number of private equity-owned software companies. He most recently served as CFO of Vertafore and prior to that served as CFO at Vector Capital-owned Corel Corporation.
“We are pleased to complete this acquisition and welcome Patrick and Chris to the team,” said Andy Fishman, Managing Director at Vector Capital. “We look forward to supporting management on the tremendous opportunity in the growing customer engagement and call center space.”
Jefferies LLC and DCS Advisory served 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.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With more than $4 billion of capital under management, Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of businesses and enhance value for employees, customers, and all stakeholders. For more information, visit http://www.vectorcapital.com.
Aspect helps enterprises break down the walls between people, processes, systems and data sources, allowing organizations to unite around the customer journey. By developing fully native interaction management, workforce optimization and self-service capabilities within a single customer-engagement center, we enable dynamic, conversational interactions and create a truly frictionless omni-channel customer experience. Leveraging the agility of our worldwide cloud infrastructure and over 40 years of industry ingenuity, Aspect conveniently and easily connects questions to answers while helping enterprises keep service levels high and operational costs contained. For more information, visit www.aspect.com.