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Crescent Acquisition Corp (NASDAQ: CRSA) announced that its stockholders approved an extension for completing its initial business combination with LiveVox Holdings, Inc. The deadline has been pushed from March 12, 2021, to June 30, 2021, allowing additional time to finalize the LiveVox Transaction. LiveVox is a cloud-based contact center platform that facilitates over 14 billion interactions annually. This transaction is expected to finalize in Q2 2021, pending stockholder approval and customary closing conditions.
LiveVox has announced a merger agreement with Crescent Acquisition Corp (NASDAQ: CRSA), set to make it a publicly traded company under the ticker "LVOX". LiveVox, founded in 2000, provides a cloud-based contact center platform, handling over 14 billion interactions annually. The merger will yield approximately $350 million, enhancing LiveVox's capital for growth. It is expected to generate $129 million in revenue for 2021, a 26% increase from 2020. Both boards have approved the transaction, which awaits shareholder approval.