DENVER, Nov. 14 /PRNewswire/ -- TeleTech Holdings, Inc (Nasdaq: TTEC
of the fastest growing providers of customer management and B2B infrastructure
services, today announced that is has acquired iCcare Limited in a $4 million
purchase transaction. iCcare is greater China's leading customer relationship
management provider. The acquisition firmly positions TeleTech as the premier
global eCRM solution provider in the Asia-Pacific region and further
strengthens TeleTech's international reach.
Under the terms of the agreement, TeleTech purchased iCcare in a
$4 million purchase transaction, consisting of $2 million in cash and
$2 million in stock. Based upon achievement of predetermined revenue targets,
iCcare could also receive additional cash payments over the next two years.
Through iCcare, TeleTech will now have the ability to provide voice and
Internet-enabled customer management solutions to its Global 1000 client base
from Asia, which is consistent with TeleTech's key initiative to expand its
reach internationally. iCcare has leading-edge multi-channel and
multi-lingual capabilities, which ensure that clients will receive the same
quality world-class CRM solutions that TeleTech currently provides. iCcare's
client base is comprised of leading corporations in the financial services and
telecommunications industries, two key areas within TeleTech's vertical market
"iCcare's strategic vision and operational consistency made this
acquisition very attractive to TeleTech," said Scott Thompson, president and
chief executive officer, TeleTech Holdings, Inc. "Part of our strategy is to
expand globally to broaden our international reach, and iCcare's solutions and
vertical market focus were extremely synergistic with TeleTech's offerings.
iCcare has also demonstrated very strong top line growth, executed solid
operating performance and developed key client relationships with leading
brands in the Asian region."
"TeleTech is the best strategic partner for us and will strengthen
iCcare's CRM services throughout greater China," said Pratima Young, chief
executive officer, iCcare Limited. "Our clients will benefit through
TeleTech's global presence, state-of-the-art technology and CRM expertise. We
are very excited to be part of the TeleTech family."
iCcare is estimated to generate approximately $5 million (U.S.) in revenue
in 2000 and approximately $7.2 million (U.S.) in 2001.
Founded in 1996, iCcare is a leading provider of eCommerce-enabled
Customer Relationship Management services. The company provides CRM
outsourcing services to major corporations in the financial services,
telecommunications and hospitality industries. iCcare services its clients
out of its 300 seat international-standard customer care centers in Hong Kong.
Its state-of-the-art customer care platform integrates Internet, telephony,
fax and letter interaction channels. iCcare's multi-lingual, highly
experienced and professionally trained customer care agents are able to serve
the most demanding customers by providing world-class customer service, taking
marketing and sales to new levels.
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.
Information regarding TeleTech Holdings can be found on the Worldwide Web at
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: lower than
anticipated customer interaction center capacity utilization; the loss or
delay in implementation of a customer management program; TeleTech's ability
to build-out facilities in a timely and economic manner; greater than
anticipated competition from new entrants into the customer care market,
causing increased price competition or loss of clients; the loss of one or
more significant clients; higher than anticipated start-up costs associated
with new business opportunities; TeleTech's ability to predict the potential
volume or profitability of any future technology or consulting sales;
TeleTech's agreements with clients may be canceled on relatively short notice;
and TeleTech's ability to generate a specific level of revenue is dependent
upon customer interest in and use of the Company's clients' products and
services. Readers are encouraged to review TeleTech's 1999 Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q, and other publicly filed
documents which describe other important factors that may impact TeleTech's
business, results of operations and financial condition. TeleTech undertakes
no duty to update its forward looking statements.
SOURCE TeleTech Holdings, Inc.
Web site: http://www.teletech.com
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