TTEC Acquires Avtex

TTEC Holdings, a customer experience technology and services provider, has acquired Avtex, a fellow CX technology and solutions provider. Financial terms of the deal were not disclosed.

The move brings to TTEC more than1,000 clients across North America, more than 500 CX engineers, data scientists, and solution architects, and an expanded footprint with banking, financial services, insurance, credit unions, public sector, healthcare, and e-commerce clients. It also expands TTEC's portfolios in artificial intelligence, robotic process automation, data analytics, workforce management, cybersecurity, fraud, and customized solutions to address industry-specific challenges.

"This acquisition will be transformational for TTEC and will expand our position as the global go-to-partner for holistic, cloud-based customer experience solutions. It will put all of the major Tier 1 CX technologies under one roof and accelerate digital innovation with industry-leading IP, including API integrations, AI/ML and RPA, data analytics, and vertical-specific solutions for fraud, cybersecurity, and automation. The result will create a single source for seamless CX orchestration across every interaction channel that will increase speed to market and customer-centric differentiation for our clients," said Ken Tuchman, chairman and CEO of TTEC, in a statement. "This high-growth platform will essentially double our total addressable market by extending our solutions to the thriving mid-market. We are thrilled to be joining forces with this world-class, award-winning organization and look forward to sharing our progress in the months ahead."

"Through our past experiences partnering with TTEC, Avtex has seen first-hand the power of their unique end-to-end value proposition. There is no doubt that our clients will benefit from TTEC's differentiated CX technology and solutions platform, broader digital transformation capabilities, and an expanded global footprint," said George Demou, president and CEO of Avtex, in a statement. "The opportunity that will be created by combining our two organizations is significant and compelling, and we are delighted to be pursuing it with a partner who shares our vision, culture, values, and focus on client-centricity."