The Gores Group Acquires SER Solutions, Inc.
February 27, 2006
Los Angeles, CA, February 27, 2006 - The Gores Group, LLC ("Gores"), a leading privately held investment firm, announced today that it has acquired, through an affiliate, the stock of SER Systems, Inc., the parent company of SER Solutions, Inc., ("SER") from Vista Equity Fund II, LP and other shareholders of SER. Terms of the transaction were not disclosed.
Based in Dulles, Virginia, SER is a leading provider of enterprise contact center software solutions to contact center operators, telecom operators, financial institutions and major enterprises. The Company's solutions support business activities such as planned and proactive customer care, telemarketing, collections, fundraising, emergency notifications and political calling. SER's predecessor was founded in 1980 and was one of the pioneers in the predictive dialing market. The Company has a "best of breed" product portfolio and has demonstrated strong growth in its outbound products by delivering superior technology and capitalizing on growing market opportunities.
Mark Stone, President of Operations at Gores said, "SER has a great team in place, a deep customer base, an industry leading product portfolio and presents significant growth opportunities. We think SER is a terrific company and are pleased to add it to the Gores portfolio of companies."
"With Gores' financial backing, SER is uniquely positioned to capitalize on the successful growth and expansion it has experienced over the past several years," said Juan Navarro, Chief Executive Officer of SER. "The SER team is excited to partner with Gores and benefit from their operational experience and M&A abilities."
About The Gores Group, LLC
Founded in 1987, The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group has become a leading investor, primarily in the technology and telecommunications sectors, having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, California, The Gores Group maintains offices in Boulder, Colorado and London. For more information, please visit www.gores.com.
About SER Solutions, Inc.
SER Solutions, Inc. delivers unsurpassed contact center management solutions to support business activities such as planned and proactive customer care, telemarketing, collections, fundraising, emergency notifications and political calling. SER's solutions enable enterprises to turn customers into loyal, long-term sources of recurring revenue by generating increased customer loyalty, expanding up-sell and cross-sell opportunities, maximizing agent productivity and reducing costs. The company is headquartered in Dulles, Virginia with operations in North America, Europe, and Asia Pacific. Additional information about SER is available at www.ser.com.
For additional information, please contact:
The Gores Group, LLC
Sitrick And Company