Click here to close now.


Microsoft Cloud Authors: Jayaram Krishnaswamy, Elizabeth White, Andreas Grabner, Jim Kaskade, 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.

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 -

eg solutions plc
+44 (0) 1785-715772
Elizabeth Gooch, Chief Executive Officer

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

Read our blogs at

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
Electric power utilities face relentless pressure on their financial performance, and reducing distribution grid losses is one of the last untapped opportunities to meet their business goals. Combining IoT-enabled sensors and cloud-based data analytics, utilities now are able to find, quantify and reduce losses faster – and with a smaller IT footprint. Solutions exist using Internet-enabled sensors deployed temporarily at strategic locations within the distribution grid to measure actual line loads.
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, will explore the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context w...
There will be 20 billion IoT devices connected to the Internet soon. What if we could control these devices with our voice, mind, or gestures? What if we could teach these devices how to talk to each other? What if these devices could learn how to interact with us (and each other) to make our lives better? What if Jarvis was real? How can I gain these super powers? In his session at 17th Cloud Expo, Chris Matthieu, co-founder and CTO of Octoblu, will show you!
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of at least three separate application components: the software embedded in the device, the backend big-data service, and the mobile application for the end user's controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target - this makes the integration of these separate pipelines and the coordination of software upd...
As a company adopts a DevOps approach to software development, what are key things that both the Dev and Ops side of the business must keep in mind to ensure effective continuous delivery? In his session at DevOps Summit, Mark Hydar, Head of DevOps, Ericsson TV Platforms, will share best practices and provide helpful tips for Ops teams to adopt an open line of communication with the development side of the house to ensure success between the two sides.
Mobile messaging has been a popular communication channel for more than 20 years. Finnish engineer Matti Makkonen invented the idea for SMS (Short Message Service) in 1984, making his vision a reality on December 3, 1992 by sending the first message ("Happy Christmas") from a PC to a cell phone. Since then, the technology has evolved immensely, from both a technology standpoint, and in our everyday uses for it. Originally used for person-to-person (P2P) communication, i.e., Sally sends a text message to Betty – mobile messaging now offers tremendous value to businesses for customer and empl...
SYS-CON Events announced today that Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, will keynote at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
The IoT is upon us, but today’s databases, built on 30-year-old math, require multiple platforms to create a single solution. Data demands of the IoT require Big Data systems that can handle ingest, transactions and analytics concurrently adapting to varied situations as they occur, with speed at scale. In his session at @ThingsExpo, Chad Jones, chief strategy officer at Deep Information Sciences, will look differently at IoT data so enterprises can fully leverage their IoT potential. He’ll share tips on how to speed up business initiatives, harness Big Data and remain one step ahead by apply...
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
The broad selection of hardware, the rapid evolution of operating systems and the time-to-market for mobile apps has been so rapid that new challenges for developers and engineers arise every day. Security, testing, hosting, and other metrics have to be considered through the process. In his session at Big Data Expo, Walter Maguire, Chief Field Technologist, HP Big Data Group, at Hewlett-Packard, will discuss the challenges faced by developers and a composite Big Data applications builder, focusing on how to help solve the problems that developers are continuously battling.
Nowadays, a large number of sensors and devices are connected to the network. Leading-edge IoT technologies integrate various types of sensor data to create a new value for several business decision scenarios. The transparent cloud is a model of a new IoT emergence service platform. Many service providers store and access various types of sensor data in order to create and find out new business values by integrating such data.
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete end-to-end walkthrough of the analysis from start to finish. Participants will also be given the pract...
WebRTC: together these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at WebRTC Summit, Cary Bran, VP of Innovation and New Ventures at Plantronics and PLT Labs, will provide an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it may enable, complement or entirely transform.
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.