Mumbai: TeleTech Holdings Inc. on Thursday said that it is acquiring a majority stake in Motif Inc., a digital trust and safety services company based in India and the Philippines.
Based in Ahmedabad, Motif caters to online brands in travel, retail and e-commerce across the globe and prevents fraud, besides providing community moderation services. Motif provides omnichannel services via voice, email chat and community moderation.
Nasdaq-listed TeleTech provides customer experience, engagement and growth solutions through its proprietary end-to-end Humanify Customer Engagement as a Service offering. The company helps its clients acquire, retain, and grow profitable customer relationships.
The company did not disclose the financial details of the transaction. However, a person aware of the development said that the deal valued Motif at around $75-100 million. He spoke on the condition of anonymity.
“Our trust and safety services are growing in demand and we are excited to bring our capabilities to new geographies and industries through TeleTech’s exceptional portfolio of blue chip clients," said Kaushal Mehta, founder and chief executive officer, Motif.
The transaction will help the cloud-based data analytics platform TeleTech to engage with its customers by ensuring safe online interactions and preventing its customers from any type of fraud activity.
“Digital safety is a lightning rod issue impacting every brand that does business online. Companies everywhere are rushing to invest in building safe environments to protect their customers and their brands from digital fraud. The acquisition also adds dynamic digital brands to our client portfolio, deepens our digital and analytics capabilities and expands our footprint in India," said Ken Tuchman, chairman and chief executive of TeleTech.
Edelweiss investment bank was the sole financial adviser to Motif on the transaction.
“Globally, the customer care services industry is going through disruption and every large player in this space is looking to build capabilities in the digital trust and safety services space. Motif’s partnership with TeleTech is synergistic from the services, geography, customers and verticals point of view," said Satyen Shah, head of Edelweiss Investment Banking. Edelweiss declined to comment on the deal value.