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Workforce optimisation player Aspect Software could well be making acquisitions this year after being picked up by private equity firm Vector Capital.Content Continues Below
The deal, which should close by the end of the first quarter, will see Vector putting more than $100m into the Aspect business, with the enterprise software player's existing lenders continuing to support the firm with a new credit facility.
Some of that money will potentially be used to fund acquisitions as Vector works with its proven model of investing in products, organic growth and purchasing additional 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. “We believe Aspect is well positioned to capitalise on the tremendous opportunity in the growing Customer Engagement Centre market.”
“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," added Sandy Gill, a principal at Vector.
Chris Koziol, Aspect Software’s President and CEO, said that the involvement of Vector would give it a chance to accelerate its growth plans.
“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," he said.
The Vector and Aspect deal is the second of the day, with TIG snapping up netConsult, making it clear from the start that consolidation in the channel will continue this year after a fair amount of activity in 2018.
The TIG deal also involved an investor, which underlines the expectation that putting money into IT firms will continue to deliver a return.