Aspect Software to Be Acquired by Vector Capital

Aspect Software, a provider of customer engagement, workforce optimization, and self-service omnichannel solutions, has entered into a definitive merger agreement to be acquired by Vector Capital, a private equity firm.

Under the terms of the agreement, Vector Capital will invest more than $100 million 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.

"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, in a statement. "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."

"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," said Andy Fishman, a managing director at Vector Capital, in a statement. "We believe Aspect is well positioned to capitalize on the tremendous opportunity in the growing customer engagement center market."

"We have always been impressed by Aspect's strong business and leadership team," added Sandy Gill, a principal at Vector Capital, in a statement. "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."