Aspect Software will merge with Noble Systems and the two will form a new company: Alvaria, a provider of customer experience and workplace engagement tools.
Private equity firm Abry Partners spearheaded the merger and is now the majority owner of the company, with Vector Capital, owner of Aspect, continuing as minority equity holder. The combined transaction is valued at over $1 billion USD.
Jim Noble, founder and CEO of Noble Systems, will serve as an advisor to Abry and Alvaria.
The merged companies will serve “the largest financial institutions, healthcare, online retail, and travel and transportation companies in the world,” states Patrick Dennis, President & CEO of Alvaria.
Alvaria is being launched with “an aggressive schedule,” starting with introduction of the new identity and website, states Michael Harris, Alvaria chief product officer and CMO of Alvaria.
News of the merger drew approval from analysts.
Their “combined technology stack and market presence, particularly in outbound contact management, will make Alvaria an extremely formidable player in the space,” states Nancy Jamison, industry director, information and communications technologies at Frost and Sullivan.
Mary Wardley, vice president customer care and CRM research at IDC, observes that 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.”