Alvaria, Inc. (together with certain affiliates, “Alvaria”, or “the Company”), a leader in contact center and workforce management software, has agreed with its major financial stakeholders that it will reduce its debt by more than 75% and receive approximately $50 million of new investment.

Alvaria intends to use this new investment and the interest savings from this debt reduction to accelerate product & customer innovations and expand platform ecosystems. The Company will deploy increased resources to its workforce management and contact center business units, including expanding enterprise intelligence, automation and deployment modalities opening differentiated use case, and outcome specific capabilities.

“Our financial stakeholders’ commitment to reduce our debt and provide substantial new investment highlights their confidence in our future. This agreement will improve our product offerings, as we invest in innovation and customer success. With this strong financial foundation in place, we can now dedicate our entire focus to delivering long-term value for our customers, partners, and employees.” – Michael Judd, CEO of Alvaria CX.

This agreement will:

• Reduce the Company’s debt balance by more than 75% from approximately $950 million to less than $225 million – it’s lowest debt balance in nearly a decade.
• Reduce the Company’s debt-to-EBITDA ratio to under 3.0x – its lowest leverage in nearly a decade.
• Reduce the Company’s annual interest expense by ~$80 million – savings that will be reinvested in the business.
• Invest approximately $50 million of new capital, bringing the total new capital invested by the Company’s financial stakeholders to approximately $125 million over the last 18 months.

“Alvaria will now be in its best financial position in nearly a decade, providing stability to its customers, partners, and employees. These substantial new investments will allow the Company to accelerate its growing momentum, inflecting revenue growth, ramping cloud bookings, and improving customer retention.” – Michael Gruet, President and Chief Financial Officer.

This agreement has the support of the required majority of the Company’s current lenders and equity owners. The opportunity to support the agreement will be offered to remaining stakeholders in the coming weeks, after which, the agreement will be implemented on a consensual basis.

For further updates follow changes here: www.alvaria.com/debt-reduction

About Alvaria, Inc:

Alvaria makes technology that powers better connections with your team and customers. Proudly celebrating over 50 years in business, Alvaria was created through the merger of two influential contact center technology companies—Aspect Software and Noble Systems. Our foundation is built on delivering sophisticated, feature-rich, and intelligently designed workforce management and contact center infrastructure solutions tailored for large global enterprises and organizations. We support an extensive ecosystem of unique components accessible via APIs and complemented by a growing number of strategic integrations that help our customers and partners modernize their contact centers at their pace and with the security, flexibility, and customization they require.

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