DENVER, and WOBURN, Mass., Nov. 8 /PRNewswire/ -- TeleTech Holdings, Inc.
(Nasdaq:
TTEC), the fastest-growing global provider of customer management and
B2B infrastructure services, today announced the closing of its acquisition of
Boston Communications Group's (Nasdaq:
BCGI) customer care division in an
asset purchase transaction. Boston Communications services the top five U.S.
wireless operators and approximately 70 wireless carriers and resellers,
positioning them as a clear leader in both the prepaid and post-paid wireless
services market. This acquisition is consistent with TeleTech's vertical
market expansion plans, greatly enhancing its strategic position in the
wireless market.
TeleTech purchased the customer care division of BCGI in a cash
transaction valued at $15 million, including a $13 million cash payment and
assumption of approximately $2 million of liabilities. The acquisition will
be accounted for under the purchase method of accounting. Under the terms of
the agreement, BCGI could receive additional cash payments, totaling up to an
additional $20 million over four years, based upon achievement of
predetermined revenue targets for its customer care division.
The transaction received clearance under the Hart-Scott-Rodino Antitrust
Improvements Act and closed on November 7, 2000.
Per the agreement, TeleTech and Boston Communications Group also formed a
strategic alliance and have begun to jointly market and sell their products on
a worldwide basis, bringing a powerful suite of pre- and post-paid services,
billing and eCRM capabilities to wireless carriers and the emerging
mobile/electronic commerce market.
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 ten countries which include Argentina, Australia, Brazil,
Canada, 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 43 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.
BOSTON COMMUNICATIONS GROUP PROFILE
Founded in 1988, BCGI provides universal real-time transaction processing
and payment services as well as other enhanced voice and data services to
wireless carriers through its Intelligent Voice Services Network (IVSN) and
its proprietary, highly scalable transaction processing platform. Through
this unmatched nationwide real-time infrastructure, BCGI provides one or more
of its services to approximately 70 wireless carriers and resellers, including
the five largest domestic carriers. At the heart of its IVSN is BCGI's
prepaid wireless service that has emerged as North America's largest real-time
billing network. BCGI's prepaid IVSN now serves over 2.7 million subscribers,
handling more than a billion minutes of prepaid wireless phone use per year.
Please visit BCGI's web site at
http://www.bcgi.net.
FORWARD LOOKING STATEMENTS
Statements not based on historical fact are forward-looking statements
that involve substantial risks and uncertainties. Under the provisions of the
Private Securities Litigation Reform Act of 1995, TeleTech cautions investors
that actual results may differ materially from those expressed or implied due
to various risks and uncertainties. Such factors include, without limitation,
difficulties and unforeseen costs may arise in the integration of Boston
Communications Group's business and operations; compatibility and integration
difficulties may occur between the operating systems, software or hardware of
TeleTech and Boston Communications Group; and TeleTech's success may be
adversely affected by market demand and by competition from new and existing
entrants into the CRM market. TeleTech's future results may also be impacted
by the other risk factors listed in its Annual Report on Form 10-K and in
other SEC filings. TeleTech undertakes no obligation to update its forward
looking statements after the date of this release.
SOURCE TeleTech Holdings, Inc.
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: Kirsten Hamling, Investor Relations, of TeleTech,
303-894-7379, kirstenhamling@teletech.com; or Tracy Baumert,
Investor Relations, of Boston Communications Group, 617-692-7000,
tracy_baumert@boscomm.net
