LiveVox, a cloud-based provider of customer service and digital engagement tools, today announced it has entered into a merger agreement with Crescent Acquisition.
Terms of the transaction call for the combined entity to receive approximately $250 million from Crescent’s trust account, assuming no redemptions, as well as a $75 million PIPE from a group of institutional investors and $25 million from a forward purchase agreement entered into by Crescent Capital Group Holdings. Upon completion of the transaction and assuming no redemptions, Golden Gate Capital and various current minority owners of LiveVox expect to hold approximately 59% of the newly public company.
Pending shareholder approvals, LiveVox would trade on the Nasdaq under LVOX. Upon closing, the combined company will be renamed LiveVox Holdings and have a valuation of $840 million, the companies said. Read more.
