DENVER and SAN DIEGO, Nov. 20 /PRNewswire/ -- TeleTech (Nasdaq:
TTEC), one
of the fastest growing global providers of customer management and B2B
infrastructure services, and Newgen Results Corporation (Nasdaq:
NWGN) today
announced that the companies have received all regulatory approvals required
to complete TeleTech's acquisition of Newgen before the end of the year.
The merger requires a Newgen stockholder vote, which has been scheduled
for December 20, 2000. Proxy materials are expected to be mailed to all
Newgen stockholders beginning today. The acquisition is expected to close
immediately following the stockholder meeting.
On August 22, 2000, TeleTech Holdings, Inc. (Nasdaq:
TTEC) announced a
definitive agreement to acquire Newgen for approximately $200 million in a
stock-for-stock exchange accounted for as a pooling of interests. Following
TeleTech's planned acquisition of Newgen, Newgen will operate as an
independent entity within TeleTech Companies Group.
TELETECH PROFILE
Founded in 1982, TeleTech is the leading provider of integrated,
eCommerce-enabling customer relationship management solutions (eCRM) for
global organizations predominantly in the telecommunications, financial
services, technology, government and transportation industries. TeleTech has
operations in eleven countries which include Argentina, Australia, Brazil,
Canada, China, Mexico, New Zealand, Singapore, Spain, the U.K. and the U.S.
TeleTech's eCRM capabilities, including B2B electronic channel management and
database management, help companies inform, acquire, service, grow and retain
their customers throughout the entire relationship lifecycle. Its innovative
customer interaction platform, CyberCare, integrates the full spectrum of
voice and Internet communications, including custom e-mail response, "chat"
and extensive Web co-browsing capabilities. Through 44 customer interaction
centers in the Americas, Europe and Asia, TeleTech couples high-velocity
e-infrastructure service deployment with premier quality e-customer
relationship management to assure our clients unparalleled success in
acquiring, retaining and growing customer relationships. Information
regarding TeleTech Holdings can be found on the Worldwide Web at
http://www.teletech.com.
NEWGEN RESULTS PROFILE
Newgen Results Corporation is a leading business-to-business application
service provider specializing in customer-relationship management (CRM) and
e-CRM for the automotive industry. The Company combines marketing and
customer retention with an in-depth knowledge of service department operations
to deliver highly targeted and customized solutions to the automotive
community. Newgen currently supports over 5,000 auto dealerships nationwide
and maintains relationships with leading automotive companies and dealers
groups including Audi, BMW, Ford, General Motors, Infiniti, Jaguar, Kia,
Mitsubishi, Nissan, Saab, Volkswagen, Volvo, plus AutoNation and CarMax Auto
Superstores.
FORWARD LOOKING STATEMENTS
All statements not based on historical fact are forward-looking statements
that involve substantial risks and uncertainties. In accordance with the
Private Securities Litigation Reform Act of 1995, following are important
factors that could cause TeleTech's actual results to differ materially from
those expressed or implied by such forward-looking statements: difficulties
and unforeseen costs may arise in the integration of TeleTech's and Newgen's
operations and marketing efforts, which could adversely affect revenue and
results of operations; compatibility and potential integration difficulties
between the operating systems, software or hardware of TeleTech and Newgen
could adversely impact TeleTech's operations; and TeleTech's ability to
penetrate new markets, including but not limited to TeleTech's ability to
continue expansion into the electronic channel management space generally may
be adversely affected by integration efforts, customer interest and delays in
technology development. Readers are encouraged to review TeleTech's 1999
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, for first,
second and third quarters 2000, which describe other important factors that
may impact TeleTech's business, results of operations and financial condition.
TeleTech, Newgen and their respective executive officers and directors may be
deemed to be participants in the solicitation of proxies from Newgen
stockholders with respect to the transactions contemplated by the Merger
Agreement. Information regarding TeleTech, TeleTech's officers and directors,
including beneficial ownership information, is included in TeleTech's Annual
Report on Form 10-K for the year ended December 31, 1999 filed with the SEC on
March 29, 2000. This document is available free of charge at the SEC web site
(
http://www.sec.gov) and from TeleTech. Information regarding Newgen,
Newgen's officers and directors is included in Newgen's Annual Report on Form
10-K for the year ended December 31, 1999 filed with the SEC on March 30,
2000. This document is available free of charge at the SEC web site
(
http://www.sec.gov) and from Newgen. This news release shall not constitute
an offer of any securities for sale. TeleTech and Newgen will prepare and
file a Proxy Statement/Prospectus with the Securities and Exchange Commission.
Copies of that document will be provided to Newgen's stockholders. In
addition, that document and other relevant documents concerning the
transaction will be filed with the SEC and copies will be available free of
charge from the SEC's web site (
http://www.sec.gov) and from TeleTech and
Newgen. The Proxy Statement/Prospectus will contain important information,
and stockholders of Newgen are urged to read it once it becomes available.
All stockholders of Newgen should read the Proxy Statement/Prospectus
carefully when it becomes available before making any voting or investment
decisions.
SOURCE TeleTech Holdings, Inc.; Newgen Results Corporation
Web site: http://www.teletech.com
Company News On-Call:
http://www.prnewswire.com/comp/107907.html
or fax, 800-758-5804, ext. 107907
CONTACT: Erika Barnes, Investor Relations of TeleTech,
720-947-6390, erikabarnes@teletech.com; or Sam Simkin, Snr. VP
and Chief Operating Officer of Newgen, 858-481-7545,
ssimkin@ngresults.com; or analysts, Kris Otridge of
Lippert/Heilshorn & Associates, Inc., 415-433-3777,
kris@lhai-sf.com
