ENGLEWOOD, Colo.--(BUSINESS WIRE)--Feb. 28, 2012-- TeleTech Holdings, Inc. (NASDAQ: TTEC), a leading
global provider of technology-enabled customer engagement and
experience solutions, today announced that its Board of Directors
has approved an additional authorization of$25 million for share
repurchases.
During 2011, TeleTech's strong cash flow from operations and
positive net cash position enabled the repurchase of 3.4 million
shares of common stock for a total cost of approximately$64
million.
"The Board's support of our ongoing share repurchase program
demonstrates its continued confidence in the company's future
growth strategy," saidKenneth Tuchman,TeleTechchairman and chief
executive officer. "TeleTech's solid cash flow from operations
continues to provide the capital necessary to invest in strategies
that return value to shareholders, including share repurchases and
strategic acquisitions."
As ofDecember 31, 2011, under the previous authorization
approved by the Board, total funding available for share
repurchases was approximately$32 million. With today's announcement
of an increased$25 millionto the authorization, there was
approximately$57 millionauthorized for future share repurchases as
ofDecember 31, 2011.
The stock repurchase authorization does not have an expiration
date and the pace of repurchase activity will depend on factors
such as levels of cash generation from operations, current stock
price and other factors.
ABOUTTELETECH
For nearly 30 years, TeleTechand its subsidiaries have helped
the world's most successful companies design, build, implement and
manage superior customer experiences across the customer lifecycle
in order to drive shareholder value. As the go-to partner for the
Global 1000, the TeleTechgroup of companiesdelivers
technology-based solutions that maximize revenue, transform
customer experiences and optimize business processes. From
strategic consulting to operational execution, our more than 42,000
employees drive success for clients in the communications and
media, financial services, government, healthcare, technology,
transportation and retail industries. Our companies deliver
award-winning integrated solutions in support of customer innovation, revenue generation, technology innovation,
enterprise
innovation, learning
innovation and strategic management consulting. For
additional information, please visit .
Source:TeleTech Holdings, Inc.
TeleTech Holdings, Inc.
Investor Contact
Karen Breen, 303-397-8592
or
Media Contact
Jeanna Blatt, 303-397-8507
