Call center firms Concerto Software Inc. and Aspect Communications Corp. are merging in a transaction valued at $1 billion.
Under the agreement, shareholders of San Jose, CA-based Aspect will receive $11.60 in cash for each share of common stock, representing an approximate 15% premium to the average closing price over the last 30 trading days.
The merger combines Westford, MA-based Concerto’s predictive dialing and unified contact center systems with Aspect’s contact center workforce management applications and performance analytics. The new company’s portfolio will include multi-channel routing, self-service interactive voice response, Internet contact and virtual contact center capabilities, reporting, monitoring and recording.
The transaction is anticipated to close as early as September. Upon closing, Aspect will no longer be publicly traded. The new company will be privately held by Concerto’s investors, Golden Gate Capital, Oak Investment Partners and management. James D. Foy, current president of Concerto, will be CEO and president of the new entity.
Aspect’s revenue for the second quarter ending June 30 is estimated to be between $85 million and $86 million. Operating income for the quarter is estimated to be $7.5 million to $8.5 million and earnings per share for the second quarter is expected to be in the range of $0.06 to $0.07.
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