Acquisition Increases Focus on LiveOps’ SaaS Development Activities
AUSTIN, TEXAS and LOS ANGELES
LiveOps, the global leader in cloud contact center and customer service solutions, and Marlin Equity Partners, a global investment firm with over $3 billion of capital under management, today announced the completion of Marlin’s acquisition of LiveOps Cloud Platform. Venture capital firm Presidio Partners, an existing investor in LiveOps, participated in the acquisition alongside Marlin. Current LiveOps CEO, Vasili Triant, will remain at the helm of the newly acquired SaaS-based company, which will continue to operate as an independent entity focused on the ongoing development and innovation of its cloud contact center platform. The LiveOps Agent Services business, formally split from LiveOps, Inc. in 2014, will continue to be a separate organization led by current General Manager of Agent Services, Greg Hanover. It has not been acquired as part of the agreement with Marlin, and will remain an active LiveOps Cloud Platform customer.
“LiveOps has undergone a significant business transformation in the last few years that has seen us gain strong market share in both our contact center and agent businesses,” said Triant. “We’ve built a strong software platform based on our 14 years of experience, taking the lessons learned from our contact center agents, and the brands that employ them, to create the most comprehensive cloud contact center offering on the market today. Marlin shares our vision of creating outstanding experiences for brands and their customers via cloud-based services and we’re excited to take the next step in our evolution with them as our partner. We believe that this acquisition positions both LiveOps businesses to refine and focus on their individual strategic objectives to accelerate growth.”
In January 2014, LiveOps announced the formation of two separate corporate entities to focus on LiveOps’ growth in cloud contact center software and on-demand agent services. The two businesses, LiveOps Cloud Platform, LLC and LiveOps Agent Services, LLC, have been run as independent entities since that time.
The award-winning LiveOps Cloud Platform has seen 84 percent growth in the last two years. The platform is a pure cloud offering that allows businesses of all sizes to rapidly deploy an instantly scalable, true multi-tenant contact center solution for unmatched quality of service, flexibility and business results. LiveOps Cloud Platform’s success is built on the company’s understanding that customer service isn’t just one of a brand’s primary differentiators, it’s the only one that matters.
“LiveOps Cloud Platform is a true cloud solution that is utilized by hundreds of brands worldwide,” said Ryan Wald, a partner at Marlin. “We believe the platform is well positioned to continue on its growth trajectory and we look forward to providing the financial and operational support to further build out the company’s SaaS offering and extend its leadership position in the cloud contact center market.”
Pacific Crest Securities, a division of KeyBanc Capital Markets, Inc. acted as the exclusive financial advisor to LiveOps, Inc. in this transaction. LiveOps Agent Services will continue its independent operations based out of Scottsdale, Arizona with offices in Redwood City, California and Dayton, Ohio.
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