Leading provider of banking and insurance applications announces major European investment strategy
Added: (Wed Mar 14 2001)
Pressbox (Press Release) -
Aspect Software International Ltd, the provider of operational eCRM applications for the European banking and insurance sector, has announced a major business expansion with the support of 3i, Europe’s leading venture capital company, and Enterprise Ireland. Aspect Software will invest Euro 5 million in accelerating the further expansion of its business throughout Europe.
Commenting on the expansion plans, Gerry O’Connor, CEO and co-founder of Aspect Software, said: "The past four years of high growth and profitability have been an exciting time for our company. 3i and Enterprise Ireland have recognised that Aspect Software is a dynamic successful company with significant future potential”.
Aspect Software has built a strong blue-chip client base in the banking and insurance sector throughout the UK, Central Europe and Ireland. Aspect has combined vertical market experience with technological innovation in assisting these organisations to automate their customer-centric operations, thereby making them more responsive and competitive. Aspect’s client list includes ING, Irish Life and Permanent, Bank of Ireland, Chase Manhattan and GMAC.
The expansion programme, put in place with the support of KPMG Corporate Finance, will allow Aspect Software to devote significant resources to research and development, sales and marketing, and the recruitment of additional talented people to share in its continued success.
Neil Graham Investment Director, at 3i commented: “The phenomenal growth witnessed since Aspect Software’s inception is a tribute to the strength, commitment and dedication of the management team and employees. Their product and expertise is proven, and is without doubt a leader in its sector. Aspect Software is an excellent example of an ambitious Irish owned company and we are proud to support them in their endeavours to become a European leader within the next 3 years."
Notes to Editors:
About Aspect Software
Aspect Software is a fast growing award winning corporation that has developed world-class operational eCRM applications for the banking and insurance industry. With offices in Dublin & London, our blue-chip customer base is spread across the UK, Central Europe and Ireland.
Aspect Software bridges the gap between technology and business benefits by embedding business process expertise in market-ready applications. Our flagship product Touchpoint2 enables banks and insurers automate their multi-product, multi-channel customer processes. Touchpoint2 gives business managers the opportunity to make their organisations competitive and responsive to customers.
For more information, visit www.aspect-software.com
About 3i Group plc
3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buy-outs and buy-ins, focusing on businesses with high growth potential and strong management.
3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA. To date, 3i has invested almost Stg£13 billion (including co-investment funds). In the six months to September 2000, an average of Stg£7.2 million (including co-investment funds) was invested each working day. 3i's current investment portfolio is valued at almost Stg£7 billion.