TTEC and Volkswagen Group UK Expand Strategic Collaboration with New Seven-Year Agreement

TTEC (NASDAQ:TTEC) announced a new seven-year contract extension with Volkswagen Group UK, deepening their strategic CX and AI collaboration across the United Kingdom.

Rhea-AI Summary

TTEC (NASDAQ:TTEC) announced a new seven-year contract extension with Volkswagen Group UK, deepening their strategic CX and AI collaboration across the United Kingdom.

The agreement continues TTEC’s customer care, case management, connected vehicle support, and AI-enabled omnichannel contact center services from Leeds and Cairo for multiple Volkswagen Group brands.

Positive

• Seven-year contract extension with Volkswagen Group UK
• Continued delivery of CX, AI and omnichannel contact center solutions
• Support for six Volkswagen Group UK brands across the customer lifecycle
• Operations anchored in Leeds and Cairo, Egypt
• Partnership builds on CX modernization efforts started in 2020

Negative

• None.

Argus May 21 session

+7.20% close to close Open Argus

Details

News Market Reaction – TTEC

On May 21, the day this news came out, TTEC closed 7.20% above the previous close.

Data tracked by StockTitan Argus for the May 21 session.

Key Figures

Contract term: 7 years Q1 2026 revenue: $496.2M Q1 2026 net loss: $7.6M +5 more

Contract term

7 years

Volkswagen Group UK CX and AI collaboration extension

Q1 2026 revenue

$496.2M

GAAP revenue, down 7.1% year-over-year

Q1 2026 net loss

$7.6M

Net loss attributable to stockholders, $(0.16) per share

Q1 2026 adjusted EBITDA

$45.8M

Non-GAAP adjusted EBITDA, 9.2% margin

Credit facility debt

$889.0M

Outstanding under credit facility at end of Q1 2026

Cash balance

$88.7M

Cash at end of Q1 2026

2026 revenue guidance

$2.01–$2.06B

Reiterated full‑year 2026 outlook range

2025 revenue

$2,137M

Full-year 2025 revenue from proxy statement

Previous Partnership Reports

2 past events · Latest: May 13

Same Type 2 events

1. May 13

   Cloud CX partnership

   24h Move

   +4.9%

   Strategic collaboration with AWS to accelerate Amazon Connect adoption using AI CX.

2. Mar 17

   CX automation deal

   24h Move

   -6.5%

   Expanded Verint partnership to offer CX Automation on Google Cloud contact center stack.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ai-enabled, omnichannel, crm

3 terms

ai-enabled technical

"delivering class-leading CX and AI-enabled digital transformation across the United Kingdom"

AI-enabled describes a product, service, or process that uses artificial intelligence—software that learns from data and makes decisions or predictions—as a core feature rather than a minor add-on. For investors it matters because AI-enabled offerings can boost productivity, lower costs or unlock new revenue streams; like adding a smart autopilot to a routine task, they can change a company's growth potential and competitive edge while also bringing higher upfront investment needs and distinct regulatory or ethical risks.

omnichannel technical

"AI-enabled omnichannel contact center solutions from operations in Leeds and Cairo"

A coordinated approach to selling and serving customers across all touchpoints—stores, websites, mobile apps, social media, and call centers—so the experience feels like one continuous conversation no matter where a customer interacts. For investors, omnichannel capability signals how well a company can attract and keep customers, turn interactions into sales, and use shared customer data to cut costs and boost revenue—making it a key driver of growth and competitive strength.

crm technical

"modernized its customer operations through cloud-based platforms, CRM transformation, and advanced automation"

Customer relationship management (CRM) is the set of tools, practices and software companies use to track and manage interactions with customers and potential customers, like an organized digital address book combined with a sales coach. It matters to investors because effective CRM systems can boost sales, improve customer retention and lower marketing costs, which directly affects revenue growth and profit margins — key drivers of a company’s value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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AUSTIN, Texas, May 21, 2026 (GLOBE NEWSWIRE) -- TTEC, a leading global consulting, technology, and managed services company delivering solutions at the intersection of data, AI, and customer experience (CX), today announced a seven-year contract extension with Volkswagen Group UK, advancing a strategic collaboration focused on delivering class-leading CX and AI-enabled digital transformation across the United Kingdom.

Nick Ratcliffe, Customer Experience Director at Volkswagen Group UK, said, “Our long-standing collaboration with TTEC has helped us reshape how we support our customers and retailers, embracing digital innovation and customer-centric thinking. We are excited to build on that success and continue delivering more connected, personal, efficient, and future-ready experiences for our customers.”

Under the renewed agreement, TTEC will continue delivering customer care, case management, connected vehicle support, and AI-enabled omnichannel contact center solutions from operations in Leeds and Cairo, Egypt. The contract supports the Audi, Škoda, SEAT, CUPRA, Volkswagen Passenger Cars, and Volkswagen Commercial Vehicles brands, to enable a seamless, data-driven experience across the customer lifecycle.

“We are proud to extend our partnership with Volkswagen Group UK. Together we have built a strong foundation for innovation, operational excellence and long-term customer value, and we look forward to continuing that journey over the next seven years,” said Simon Dillsworth, Senior Vice President of Automotive and RevGen at TTEC.

Since 2020, TTEC and Volkswagen Group UK have modernized its customer operations through cloud-based platforms, CRM transformation, and advanced automation, strengthening service performance and deepening retailer and customer engagement.

Chris Stevens, Head of Customer Experience at Volkswagen Group UK, added, “This next chapter of our partnership reflects our shared vision to deliver the highest levels of customer service through data-led insights that deepen our understanding of our customer needs. TTEC’s expertise has been a key part of our growth and evolution.”

For more information, visit https://www.ttec.com/.

About TTEC

TTEC Holdings, Inc. (NASDAQ: TTEC) is a leading global consulting, technology, and managed services company delivering solutions at the intersection of data, AI, and customer experience. Serving iconic and disruptive brands, TTEC’s outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-generation digital technology, the Company’s TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI, and analytics solutions. The Company also delivers AI-enhanced customer engagement, customer acquisition and growth, tech support, back-office, and fraud prevention services. Founded in 1982, TTEC’s singular obsession with CX excellence has earned it leading client, customer, and employee satisfaction scores across the globe. The Company’s employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more, visit https://ttec.com.

Media Contact
Meredith Matthews
meredith.matthews@ttec.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did TTEC (NASDAQ:TTEC) announce about its agreement with Volkswagen Group UK on May 21, 2026?

TTEC announced a seven-year contract extension with Volkswagen Group UK. According to TTEC, the renewed agreement continues their strategic collaboration on customer experience, AI-enabled digital transformation, and omnichannel contact center services across the United Kingdom.

How long is the new TTEC and Volkswagen Group UK customer experience agreement?

The new TTEC and Volkswagen Group UK agreement runs for seven years. According to TTEC, this long-term contract extension advances their shared focus on class-leading customer experience and AI-enabled digital transformation across multiple Volkswagen Group brands in the UK market.

Which Volkswagen Group UK brands are covered by the new TTEC contract extension (TTEC)?

The contract supports Audi, Škoda, SEAT, CUPRA, Volkswagen Passenger Cars, and Volkswagen Commercial Vehicles. According to TTEC, these brands benefit from a seamless, data-driven customer experience across the lifecycle, supported by customer care, case management, and connected vehicle services.

What services will TTEC provide under the renewed Volkswagen Group UK agreement?

TTEC will provide customer care, case management, connected vehicle support, and AI-enabled omnichannel contact center solutions. According to TTEC, these services are designed to deliver more connected, personal, efficient, and future-ready customer experiences across Volkswagen Group UK’s brands.

From which locations will TTEC serve Volkswagen Group UK under the seven-year contract?

TTEC will serve Volkswagen Group UK from operations in Leeds and Cairo, Egypt. According to TTEC, these locations will continue delivering CX, connected vehicle support, and AI-enabled omnichannel contact center services for multiple Volkswagen Group brands in the UK.

How have TTEC and Volkswagen Group UK modernized customer operations since 2020?

Since 2020, the partnership has modernized customer operations via cloud platforms, CRM transformation, and advanced automation. According to TTEC, these initiatives strengthened service performance and deepened engagement with both retailers and customers across Volkswagen Group UK’s network.

What is the strategic focus of the extended TTEC and Volkswagen Group UK collaboration?

The strategic focus is on class-leading customer experience and AI-enabled digital transformation. According to TTEC, the renewed collaboration emphasizes data-led insights, operational excellence, and long-term customer value across Volkswagen Group UK’s brands over the next seven years.