Aspect Telecommunications Announces Acquisition of Envoy Holdings Limited.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Sept. 16, 1996--Aspect Telecommunications Corporation (Nasdaq:ASPT ASPT American Society of Plant Taxonomists ASPT American Society of Phlebotomy Technicians ASPT Average Score Per Taxon (neural networks) ASPT Academy of Screen Printing Technology ASPT Army School of Physical Training ) of San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , and Envoy Holdings Limited of the United Kingdom announced today the signing of a definitive agreement under which Aspect will acquire Envoy in a stock-for-stock exchange of approximately 105,000 Aspect common shares for all of Envoy's outstanding shares. Based on Aspect's closing price of $56.75 on September 13, 1996, the transaction is valued at about $6 million. The transaction is anticipated to be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. and is expected to close at the end of September. Aspect will record a non-recurring charge for transaction-related expenses of one to two cents per fully-diluted share in the third quarter of 1996. After including Envoy's results of operations for all of 1996, the incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. impact on Aspect's full year fiscal 1996 revenues is anticipated to be about $4 million. The transaction is expected to be neutral to slightly positive to Aspect's net earnings for the year, excluding the non-recurring charge. Envoy's staff of approximately 35 professionals is set to join Aspect's recently formed Consulting and Systems Integration (C&SI) business unit and will continue to operate from existing facilities in Richmond, England, outside London. Envoy Systems Limited Envoy Systems Limited, the primary operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of Envoy Holdings Limited, is one of the United Kingdom's leading computer telephony integration Computer Telephony Integration - Computer Telephone Integration (CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ) call center solution providers. Envoy provides call center and telebusiness solutions to help improve customer service, through consultancy, software and systems integration. Envoy has implemented over 20 CTI call center sites across the UK and Europe. Envoy has technical and marketing relationships with telecommunications and computer suppliers in the UK and throughout the Benelux countries. Aspect Telecommunications Founded in 1985, Aspect Telecommunications is a global provider of comprehensive business solutions for mission-critical call centers. Aspect products include automatic call distributors, interactive response systems, management information and reporting tools, and planning and forecasting packages. Aspect also provides services vital to call center environments, including business applications consulting, systems integration and training. World headquarters are located in San Jose, California. For additional information, visit Aspect on the World Wide Web at http://www.aspect.com. Except for historical information contained herein, the matters discussed in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected, including: Aspect's ability to build a successful C&SI business unit, the closing of the Envoy acquisition in the time frame expected or at all, Aspect's ability to integrate the personnel and operations of Envoy in an efficient manner, and Aspect's ability to retain key Envoy employees. Other risks that could cause actual results to differ materially from those projected are discussed in Aspect's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 1995 and in Aspect's Form 10-Q Form 10-Q See 10-Q. for the quarters ended March 31 and June 30, 1996, respectively. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. Aspect undertakes no obligation to publicly release the results of any revision to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. -0- Note to Editors: Aspect Telecommunications and the Aspect logo are registered trademarks of Aspect Telecommunications Corporation. All other product or service names mentioned in this document may be trademarks of the companies with which they are associated. CONTACT: Aspect Telecommunications Eric Keller or Kathy Marohl, 408-325-2200 or Envoy Systems Limited Geoff Eagland, 44-181-948-6000 |
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