Click here to close now.

Welcome!

.NET Authors: Carmen Gonzalez, Elizabeth White, Liz McMillan, Greg O'Connor, Jason Bloomberg

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
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will meet your customers' needs of tomorrow - today! Ciqada. Let your products take flight. For more inform...
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable older adults to live independent lives while staying connected to loved ones. M2M will continue to gr...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) application providers dating back to 2004. Cybozu's kintone.com is a leading global BYOA (Build Your O...
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of Cloud and Mobile Strategy at GENBAND, will explore what is needed to take a real time communications ...
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Company’s core communications platform enables the delivery of a range of enterprise and consumer calling...
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquired by Aditi Technologies. He is a Microsoft Regional Director for Hyderabad, India, and one of the f...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps 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 today!
SYS-CON Media announced today that @ThingsExpo Blog launched with 7,788 original stories. @ThingsExpo Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @ThingsExpo Blog can be bookmarked. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago.
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting wearables as fashion accessories and moving away from the original clunky technology associated with t...
SYS-CON Events announced today that Litmus Automation will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Litmus Automation’s vision is to provide a solution for companies that are in a rush to embrace the disruptive Internet of Things technology and leverage it for real business challenges. Litmus Automation simplifies the complexity of connected devices applications with Loop, a secure and scalable cloud platform.
In 2015, 4.9 billion connected "things" will be in use. By 2020, Gartner forecasts this amount to be 25 billion, a 410 percent increase in just five years. How will businesses handle this rapid growth of data? Hadoop will continue to improve its technology to meet business demands, by enabling businesses to access/analyze data in real time, when and where they need it. Cloudera's Chief Technologist, Eli Collins, will discuss how Big Data is keeping up with today's data demands and how in the future, data and analytics will be pervasive, embedded into every workflow, application and infra...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, will provide some practical insights on what, how and why when implementing "software-defined" in the datacenter.
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements around Unified Networks, Cloud Computing strategies, Virtualization around Software defined Data Ce...