LiveVox to Merge with Crescent Acquisition

LiveVox, a provider of cloud-based customer service and digital engagement tools, is merging with Crescent Acquisition in an $840 million deal.

LiveVox offers a contact center platform that unifies omnichannel communications, CRM, and workforce optimization into a single cloud-based customer engagement solution.

"We capitalize on the growing need for support agents to provide an unparalleled customer experience with our unique solutions platform," Louis Summe, co-founder and CEO of LiveVox who will continue to lead the business post-transaction, said in a statement. "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," said Robert Beyer, executive chairman, and Todd Purdy, CEO of Crescent Acquisition, in a joint statement. "Global conditions have pushed digital transformation to the forefront, and customer-facing businesses are anxious for a decisive leap toward 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, in a statement. "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."