Aspect Software Inc. files for Chapter 11


An Arizona tech company with ties to Orlando on March 9 announced it has filed for Chapter 11 bankruptcy reorganization.

Phoenix, Ariz.-based Aspect Software Inc. — which bought Orlando’s Voxeo Corp. in 2013 for $150 million— and some of its affiliates “commenced voluntary cases” with the U.S Bankruptcy Court in Delaware, according to a news release. As part of that, the company also negotiated a deal with its existing lenders that will result in the reduction of more than $320 million in debt, and provide new secured financing and an infusion of convertible debt capital for growth, the release said.