TeleTech Expands its Geographic Footprint, Services Portfolio, and Language Capabilities by Acquiring Bulgaria-based Sofica Group - abc27 WHTM

TeleTech Expands its Geographic Footprint, Services Portfolio, and Language Capabilities by Acquiring Bulgaria-based Sofica Group

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SOURCE TeleTech Holdings Inc.

Sofica Group's diverse customer management services capabilities and broad European language competencies further enhances TeleTech's Customer Management Services portfolio

DENVER, Feb. 24, 2014 /PRNewswire/ -- TeleTech Holdings, Inc. (NASDAQ: TTEC), a leading global provider of analytics-driven, technology-enabled customer engagement solutions, announced today that it intends to acquire Bulgaria's leading independent customer management services company, Sofica Group. Under the terms of the agreement, Sofica will become a part of TeleTech's Customer Management Services segment, providing exceptional customer lifecycle management services across multiple channels in over 18 languages out of Central and Eastern Europe. A definitive agreement is signed and the transaction, which is subject to customary closing conditions, is expected to close within the next week.

"We are excited to join forces and to welcome Sofica's employees to TeleTech's customer management services division," said Martin DeGhetto, TeleTech's chief operations officer. "The acquisition enables us to provide expanded multichannel services and language capabilities to our growing global client base. Sofica's seasoned management team, high quality workforce and solid technology infrastructure is a key enabler for our international growth strategy."

"The Sofica organization is pleased to join the TeleTech family," explained Stefan Bumov, Sofica Group's chief executive officer. "This relationship promises to deliver great opportunities for our clients, employees and shareholders. We look forward to partnering with TeleTech to bring our multichannel and multilingual capabilities to TeleTech's marquee multinational client base. "


Founded in 2004, Sofica Group has become the largest independent customer management services provider in Bulgaria. The Company currently has operations in Sofia and Plovdiv, Bulgaria and in Skopje, Macedonia, and provides leading local and global clients with a broad range of tailored customer care, BPO, ITO, HRO, and other services. For additional information, please visit www.sofica-group.com.


TeleTech, founded in 1982, is a leading global provider of analytics-driven, technology-enabled services that puts customer engagement at the core of business success. The company offers an integrated platform that combines analytics, strategy, process, systems integration, technology and operations to simplify the delivery of the customer experience for Global 1000 clients and their customers. This holistic multichannel approach improves customer satisfaction, increases customer loyalty and drives long-term profitability and growth. From strategic consulting to operational execution, TeleTech's more than 41,000 employees deliver results for clients in the automotive, communications and media, financial services, government, healthcare, technology, transportation and retail industries. Through the TeleTech Community Foundation, the Company leverages its innovative leadership to ensure that students in underserved communities around the globe have access to the tools and support they need to maximize their educational outcomes. For additional information, please visit www.TeleTech.com.


"Statements in this press release contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, relating to our operations, expected financial position, results of operation, and other business matters that are based on our current expectations, assumptions, and projections with respect to the future, and are not a guarantee of performance. We use words such as "may," "believe," "plan," "will," "anticipate," "estimate," "expect," "intend," "project," "would," "could," "target," or similar expressions, or when we discuss our strategy, plans, goals, initiatives, or objectives, we are making forward-looking statements.

We caution you not to rely unduly on any forward-looking statements. Actual results may differ materially from what is expressed in the forward-looking statements, and you should review and consider carefully the risks, uncertainties and other factors that affect our business and may cause such differences as outlined but are not limited to factors discussed in the sections entitled "Risk Factors" included in TeleTech's filings with the US Securities and Exchange Commission (the "SEC"), including our most recent Annual Report on Form 10-K and subsequent quarterly financial reports on Form 10-Q. TeleTech's filings with the SEC are available in the "Investors" section of TeleTech's website, www.teletech.com and at the SEC's public website at www.sec.gov. Our forward looking statements speak only as of the date of the press release and we undertake no obligation to update them, except as may be required by applicable laws."

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