Aspect Software will merge with Noble Systems to form Alvaria, a new company delivering customer experience and workforce engagement software and cloud services technology solutions.
The combined company will be led by Patrick Dennis, Aspect's president and CEO.
"This merger will combine two of the leaders in the customer experience space into a major unified force for innovation and growth," Dennis said in a statement. "Our unified customer base represents the largest financial institutions, healthcare, online retail, and travel and transportation companies in the world. We are so excited to embark on this next stage of our corporate development."
Abry Partners, a Boston-based private equity firm, spearheaded the merger and is now the majority owner of the combined company. Vector Capital, owner of Aspect, will continue as minority equity holder. The total value of the combined transaction is more than $1 billion.
"We are impressed with the transformation of Aspect under the leadership of Patrick and the Vector team," said Tomer Yosef-Or, a partner at Abry, "and Noble Systems will be an excellent merger partner, making Alvaria an even stronger competitor in the market."
Andy Fishman, a managing director of Vector Capital, added, "We congratulate and thank Patrick and the entire Aspect organization for their incredible work. We are excited to partner with Abry as we bring together Aspect and Noble Systems as the new Alvaria and look forward to supporting the new company through its next phase of growth."
Jim Noble, founder and CEO of Noble Systems, will remain as an advisor to Abry and Alvaria.
"Jim has made a lasting impact in this marketplace," Yosef-Or said. "He has led Noble through 30 years of innovation and growth. This merger is a fitting exclamation point to his successful career."
News of this merger was met with enthusiasm from key industry analysts.
"Aspect plus Noble is a very strong match. Their combined technology stack and market presence, particularly in outbound contact management, will make Alvaria an extremely formidable player in the space. This should be welcome news to enterprise customers worldwide," said Nancy Jamison, industry director for information and communications technologies at Frost and Sullivan, in a statement.
"The Aspect/Noble merger will be a jolt of lightning to the contact center market for several reasons: first will be the surprise to the market, second will be the long-term opportunity these two companies and product lines bring. Large enterprise customers will especially see big benefits through innovations to come. This could spur more acquisitions as vendors vie for customers and market share," said Mary Wardley, vice president of customer care and CRM research at IDC, in a statement.