Enghouse Systems Enters into Asset Purchase Agreement with Lifesize

Enghouse Systems has agreed to purchase the assets of Lifesize, a provider of video conferencing and omnichannel contact center solutions. Financial terms of the deal were not disclosed, but the agreement includes all of Lifesize's assets and brands, including Lifesize, Kaptivo, ProScheduler, Serenova, and Telstrat.

The agreement is the first in a series of strategic actions that Lifesize is taking to reorganize its capital structure after petitioning for Chapter 11 bankruptcy reorganization.

"Lifesize was founded on the vision of providing life-like visual communication solutions to allow businesses to thrive in a digital world," said Marc Bilbao of FTI Consulting, co-chief restructuring officer of Lifesize, in a statement. "However, due to the global pandemic, the need for in-office video conference solutions evaporated essentially overnight. This ultimately put a pause on Lifesize's core business model and a strain on its financial structure. During the Chapter 11 process, Lifesize will remain focused on serving its global customer base of omnichannel contact centers and video conferencing solutions."

"Lifesize's global reach, customer base, and innovative technology enhances the way the world communicates and improves customer experiences in the new realities of hybrid and remote work," said Michael Yoshimura of FTI Consulting, co-chief restructuring officer of Lifesize, in a statement. "The Lifesize multivendor video meeting connectivity is needed by global enterprises now more than ever. We are optimistic about the future for the company and are confident Lifesize can continue to deliver value and certainty to its blue-chip customer base worldwide."