Aspect Telecommunications signs agreement to acquire TCS Management Group; transaction to expand Aspect's call center offerings to include leading workforce management software.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)--Oct. 5, 1995--Aspect Telecommunications Corporation (Aspect), based here, and Next plc (a UK-based retailer), jointly announced today that both companies have entered into an agreement whereby Aspect will acquire Nashville, Tenn.-based TCS (Transportation Control System) A widely used integrated information system for railroad transportation developed by the Missouri Pacific Railroad Company in the late 1960s and early 1970s. It was later implemented by Union Pacific when the companies merged. Management Group, Inc. (TCS) from Next. Both Aspect and TCS are recognized leaders in the worldwide call center market. The Aspect CallCenter(R) automatic call distribution (ACD (Automatic Call Distributor) A computerized phone system that responds to the caller with a voice menu and connects the call to the appropriate agent. It can also distribute calls equally to agents. ) system is the cornerstone of mission-critical call centers, handling an average of 10 million customer transactions per day. TCS is the world's leading provider of workforce management Workforce Management (WFM) encompasses all the responsibilities for maintaining a productive and happy workforce. Sometimes referred to as HRMS systems, or even the larger ERP systems (Oracle, PeopleSoft, SAP). There are many software vendors within this space. software and call center consulting solutions. Under the terms of the agreement, which is expected to be closed during November subject only to Hart-Scott-Rodino Act Hart-Scott-Rodino Act Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the review, Aspect will acquire 100 percent ownership of TCS for a value of $37.5 million, structured as $33 million in cash and the issuance of a $4.5 million promissory note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. . TCS will become an independent, wholly-owned subsidiary of Aspect, maintaining its existing identity, management team, employees, facilities, sales channels, product lines and third-party relationships. The acquisition is to be accounted for as a stock purchase and is not expected to be dilutive to Aspect earnings. "The addition of TCS to Aspect builds on the complementary technical and market strengths of our two companies," said James R. Carreker, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aspect Telecommunications. "With TCS's industry leadership in workforce management software and consulting services, Aspect will expand its ability to provide powerful and flexible solutions for call center customers. "We are delighted to welcome TCS customers and employees to Aspect. We have established that TCS will continue as the same high-quality entity with the same practices that have enabled the TCS team to become the leaders in an important segment of the call center industry." "We eagerly embrace the idea of Aspect as our new owner and partner," said James R. Gordon, founder and president of TCS. "TCS shares a common vision and philosophy with Aspect. We are both dedicated to listening to our customers, providing sophisticated solutions to address their needs, and delivering comprehensive service and support. This new alliance will further strengthen both our companies' ability to continue providing superior solutions for today's professionally managed call centers." Founded in 1985, Aspect (NASDAQ/NMS: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 ) is a global provider of solutions for mission-critical call centers -- call centers that exist to generate revenue, service customers and protect market position, as well as handle calls. The company also provides services vital to call center environments including call center integration, business applications consulting and training. Aspect customers are regional, national and multinational enterprises in a range of industries -- financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , insurance, technology, utilities, consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, , travel, entertainment and government. Aspect is headquartered in San Jose, Calif. and has approximately 750 employees throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. Aspect's home page on the World Wide Web is http://www.aspect.com. TCS, founded in 1975, develops and sells the TeleCenter System, the world's leading workforce management software system for call centers. Installed in over 800 call centers in 32 countries, the TCS system automates the tasks associated with managing the workforce in a call center, including call forecasting, staff scheduling and performance tracking. TCS workforce management software can work with any ACD product, and is designed for call centers with more than 25 agents. Applications include customer service, catalog sales, telemarketing, help desks and reservations. TCS is headquartered in Nashville with offices in Boston, Chicago, Denver, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Seattle, Toronto and London. -0- Note to Editors: The Aspect logo, Aspect CallCenter, Aspect TeleCaster and CustomView are registered trademarks and Agility, ActionAgent and ActionAgent Navigator are 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 Ed Cluss, 408/325-2318 or TCS Management Group Penny Reynolds, 615/327-0811 |
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