Aspect Emerges from Debt Restructuring

Aspect Software, a cloud provider of fully-integrated consumer engagement, workforce optimization, and back-office solutions, has completed ots process to facilitate its long-term growth, product innovation, and ongoing pivot to the cloud following its March filing for a financial restructuring and replacement of its existing credit facilities.

The pre-arranged agreement, which was approved by the court last week, results in the reduction of more than $320 million of debt, new secured financing, and an infusion of fresh cash to facilitate growth. 

"Our emergence from the restructuring process marks a major milestone in the multiyear transformation of Aspect's business, through which we have evolved from a legacy technology company that sold a limited set of on-premises contact center software to a contemporary and comprehensive provider of contact center and workforce optimization solutions in the cloud," said Stew Bloom, Aspect's chairman and CEO, in a statement. "The increased liquidity that results from our restructuring efforts will facilitate investments in R&D, cloud infrastructure, and the launch of the market's first true Customer Engagement Center in the cloud, Aspect Via."

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