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Publish Date : 05-Feb-2013

eg solutions plc, 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 24×7 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.

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