MA-ASPECT/NOBLE/ALVARIA
10.5.2021 15:02:12 CEST | Business Wire | Press release
Today, Aspect Software will merge with Noble Systems of Atlanta Georgia, to form Alvaria™, (pronounced: ahl-vahr-ee-uh ), a new global company delivering optimized customer experience and workforce engagement software and cloud services technology solutions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210510005167/en/
The newly combined company will be led by Patrick Dennis, Aspect 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,” said Patrick Dennis, President & CEO of Alvaria. “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 (“Abry”), 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 over $1 billion USD.
“We are impressed with the transformation of Aspect under the leadership of Patrick and the Vector team,” said Tomer Yosef-Or, 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 transition into a new role as an advisor to Abry and Alvaria. “Jim has made a lasting impact in this marketplace,” continued Mr. Yosef-Or. “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. According to Nancy Jamison, Industry Director, Information and Communications Technologies at Frost and Sullivan, “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.”
According to Mary Wardley, VP Customer Care and CRM research at IDC, “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.”
“We are launching Alvaria with an aggressive schedule, beginning with the immediate introduction of our new corporate identity and website, www.alvaria.com , followed by merged operations,” said Michael Harris, Alvaria Chief Product Officer and CMO. “Customers of Aspect Software and Noble Systems will continue to use the existing products and services they depend on now for delivering mission critical services, without interruption, followed by a seamless transition to the next generation of Alvaria systems and services.”
Aspect Software and Vector Capital were advised by Jefferies LLC as their sole financial advisor, and Paul Hastings LLP as their legal counsel. Abry Partners was advised by TD Securities (USA) LLC as its financial advisor, and Kirkland & Ellis LLP as its legal counsel. Noble Systems was advised by Eversheds Sutherland as its legal counsel.
About Alvaria:
Alvaria was founded through the merger of Aspect Software and Noble Systems, technology leaders in Customer Experience (CX) and Workforce Engagement solutions. Our name is derived from Latin for “hives” – nature’s perfect form for millions of years – bringing you solutions that are scalable, resilient and secure, with efficiency, speed and pinpoint accuracy. ALVARIA™. Reshaping Customer Experience™. For more information, please visit www.alvaria.com
About Abry Partners:
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information on Abry, please visit www.Abry.com .
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With more than $3 billion of capital under management, Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of businesses and enhance value for employees, customers, and all stakeholders. For more information, visit http://www.vectorcapital.com .
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