Welcome!

Microsoft Cloud Authors: Stackify Blog, Liz McMillan, David H Deans, Automic Blog, Pat Romanski

Blog Feed Post

Strategic partnership and re-seller agreements with Aspect Software; subscription by Aspect Software to raise £1,250,000; and trading update

eg solutions plc ("eg" or "the Company"; LSE-AIM: EGS), the back office optimisation software company, announces that it has signed a strategic partnership and re-seller agreement ("the Agreement") with Aspect Software Inc. ("Aspect"), the global provider of customer contact and enterprise workforce optimisation solutions. In addition, Aspect, through its UK subsidiary, Aspect Software UK Limited ("Aspect UK") has agreed, conditional on admission of such shares to AIM ("Admission"), to subscribe for 1,712,392 ordinary shares of 1 penny each in the capital of the Company ("New Ordinary Shares") at a price of 73 pence per share ("Placing"). The agreement is for a 3 year period and shall automatically renew for successive one year periods unless 90 day's notice of termination is given by either party prior to the expiration of the then current term.

On Admission, the New Ordinary Shares will represent 10.69 per cent. of the issued share capital of the Company. The New Ordinary Shares will rank pari passu in all respects with the Company's existing issued Ordinary Shares. In the event that the New Ordinary Shares are not admitted to AIM by 8 a.m. on 8 February 2013, unless otherwise agreed by the parties, the Placing shall not proceed and neither party shall be under any further obligation to the other.

Under the Agreement Aspect will have exclusive distribution rights for the eg operational intelligence® software suite in Asia Pacific and the Americas and the rest of the world (other than Europe, the Middle East and Africa), and will work jointly with eg in Europe, the Middle East and Africa. The Company's eg operational intelligence® software will also be integrated with Aspect's eWorkforce Management and Performance Management products to provide a single back office optimisation solution.

Aspect will invest resources in sales, sales support and delivery, as well as providing 24x7 international support for eg's global customers.

In addition to exclusivity for eg operational intelligence®, the Company will provide training and sales support, including awareness training for Aspect's entire sales team and specialist training and sales support for its back office optimisation team.

Under the Agreement Aspect is entitled to appoint a non-executive director to the board of the Company and will announce details of the first appointment in due course.

Key terms of the Placing
The Placing is governed by a placing letter, dated 4 February 2013, between eg and Aspect UK ("Placing Letter"). Under the terms of the Placing Letter, Aspect UK agrees to subscribe for the New Ordinary Shares as described above. Under the terms of the Placing Letter, the Company gives certain warranties to Aspect UK.

Warrants
In addition to the subscription for the New Ordinary Shares, Aspect UK has been granted a conditional right to subscribe for up to 400,000 Ordinary Shares ("Warrants), such Warrants to be determined by the achievement of annual gross revenue targets ("Targets") for the 395 days from the date of the Agreement ("Year 1") and the 12 months following Year 1 ("Year 2"). Subject to achieving the Targets, Aspect shall be granted Warrants over up to 200,000 Ordinary Shares for Year 1 and up to a further 200,000 Ordinary Shares for Year 2. Warrants shall be exercisable at a price of 79 pence per share. Once granted, Warrants may be exercised within two years of Year 1 or Year 2, as appropriate.

Relationship Agreement
Aspect UK and the Company have entered into a relationship agreement ("Relationship Agreement") to regulate the relationship between the parties and to provide each of the parties with certain rights. The key terms of the Relationship Agreement are:-

  • For so long as Aspect UK holds more than 10 per cent of the issued share capital of the Company and is not the subject of a change in control by a competitor of the Company, it shall be entitled to appoint, maintain in office and remove a director of the Company ("Aspect Director").
  • For so long as either: (a) Aspect UK is entitled to appoint an Aspect Director but such director has not been appointed or, if appointed, is not entitled to attend a meeting of the Board or a committee of the Board; or (b) if Aspect UK is not entitled to appoint an Aspect Director, the Company shall permit a representative designated by Aspect UK to attend as observer at all Board and committee Meetings;
  • The Aspect Director may not, unless otherwise agreed by the Board of eg, participate in any discussions or vote on any matter amounting to a related party transaction to which Aspect is a related party for the purposes of the AIM Rules or any matter relating to a claim to be brought by Aspect or any member of its group ("Aspect Group") against the Company.
  • Aspect UK undertakes to the Company to use its reasonable endeavours to ensure that eg and its group ("eg Group") is not prevented from carrying on its business independently of the Aspect Group and that all transactions between the eg Group and the Aspect Group are conducted on arm's length terms.
  • In the event of an offer for eg by a bona fide third party purchaser on arm's length terms, and a majority of the issued Ordinary Shares accept that offer such that would result in a change of control of eg, the eg Board shall have the option to require Aspect UK, subject inter alia to any such offer being declared unconditional in all respects and the price payable for all the Ordinary Share held by Aspect UK being not less than 90 percent of the aggregate price paid for all such Ordinary Shares, to transfer its Ordinary Shares to the bidder under the offer.
  • Aspect UK undertakes with eg that, for a period of 3 years from the date of the Relationship Agreement, it will not, and will procure any person acting in concert with it that it will not, directly or indirectly acquire, agree to acquire or take any option over any interest in any securities issued by the Company or any derivatives referenced to such securities or make any announcement with respect to any offer or any potential offer under the City Code on Takeovers and Mergers, in each case without the consent of the eg Board.
  • Aspect UK agrees that it shall not for a period of one year from the date of the Relationship Agreement dispose or agree to dispose of any Ordinary Shares without the prior written consent of the eg Board, and thereafter only to dispose of such shares through a bookrunner nominated by the Company, provided that if that bookrunner has not disposed of the Ordinary Shares within 10 business days of a request to do so, Aspect UK shall be free to dispose of such shares through a broker of its own choice.
  • The Relationship Agreement shall terminate on the Aspect Group ceasing to hold three per cent. or more of the Ordinary Shares in issue, the Ordinary Shares ceasing to be admitted to AIM or eg being the subject of a change in control.

Elizabeth Gooch, eg's Chief Executive Officer, commented:
"We are delighted with this strategic partnership and re-seller agreement. Aspect is totally committed to the rapidly emerging back office optimisation market and recognises eg's technology and product leadership in satisfying the requirements of this new market.

Both companies are totally aligned in approach to back office WFM and performance management. Together we offer a single solution to manage work and optimise resources both within and between the front and back office.

We are now able to take full advantage of this major growth opportunity and accelerate the expansion of our customer base and geographic reach, as well as strengthen our capabilities for existing customers. This partnership will enable us to secure further contracts with our global clients and rapidly increase distribution of our products and services. Combined with the strategic client wins we have secured over the past 12 months the partnership will transform the financial prospects of the Company."

Spence Mallder, Senior Vice President, General Manager of the Workforce Optimization division and Chief Technology Officer at Aspect said:
"Aspect will now be able to seamlessly orchestrate the people and processes that flow within and between the back office and front office to optimise how service is delivered. eg's domain expertise in the back office, along with the most open and flexible work distribution solution on the market, made them a natural strategic partner for Aspect. The complementary software and expertise of eg and Aspect create a very powerful process optimisation solution that efficiently delivers a cohesive, customer-delighting service experience."

The combined solution of Aspect and eg can help customers realise these savings by:

  • minimising repeat calls for the contact centre that arise from back office inefficiencies;
  • increasing overall customer satisfaction;
  • decreasing costs arising from errors, lags, and inefficient back office resource utilisation;
  • providing visibility into throughput, resource performance, quality of work and overall performance of all resources affecting customer deliverables;
  • managing back office knowledge workers and output against KPIs; and
  • automating common processes to enforce best practices and minimise error and inefficiency.

Trading Update
During the second half of the year ended 31 January 2013, the company has undertaken extensive work on pilot projects with new clients secured at the start of the year.

However, in view of the discussions that have been taking place with Aspect, which were required to provide global software and other support to these clients, the deployment of various projects beyond the pilot stage has been delayed.

As a result, revenue for the year ending 31 January 2013 is expected to be significantly below market expectations at £4.81 million (2012: £4.71million). Following the completion of the Aspect Agreement, it is expected the projects will move to full implementation with the previously anticipated revenues falling into the current year ending 31 January 2014.

The results for the year ended 31 January 2013 will be announced on 20 March 2013.

- END -

CONTACTS
eg solutions plc
+44 (0) 1785-715772
Elizabeth Gooch, Chief Executive Officer www.eguk.co.uk

Bankside +44 (0) 20-7367-8888
Simon Bloomfield

Panmure Gordon + 44(0) 20-7886-2500
Fred Walsh or Charles Leigh-Pemberton

About eg solutions plc
eg solutions plc is a global back office optimisation software company. Our software provides historic, real-time and predictive Operational MI. When implemented with our training programme for managers and team leaders to use this intelligence, we guarantee improvements in operational results in short timescales.

The Company, which is listed on the Alternative Investment Market ('AIM') of the London Stock Exchange, is committed to customer satisfaction and the ongoing development of its operations management solutions.

About Aspect Software Inc.
Aspect builds customer-company relationships through a combination of customer contact software and workforce optimisation for the enterprise. Aspect has helped more than 3,000 clients in 50 countries build better customer-company relationships, and has more than 1,000 worldwide patents or patents pending and is certified in 14 Microsoft Gold and Silver competencies. For more information, visit www.aspect.com.

Read our blogs at http://blogs.aspect.com.

Editorial contacts
Joanna Cannon / Jessica Davis
Spreckley Partners Ltd
Tel: 020 7388 9988
Email: [email protected]

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

@ThingsExpo Stories
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Cybersecurity is a critical component of software development in many industries including medical devices. However, code is not always written to be robust or secure from the unknown or the unexpected. This gap can make medical devices susceptible to cybersecurity attacks ranging from compromised personal health information to life-sustaining treatment. In his session at @ThingsExpo, Clark Fortney, Software Engineer at Battelle, will discuss how programming oversight using key methods can incre...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...