TTEC Provides Update on Potential Take Private Transaction
Rhea-AI Summary
TTEC Holdings (NASDAQ:TTEC) announced that its founder, Chairman and CEO Kenneth Tuchman has withdrawn his previously announced non-binding proposal to take the company private. The proposal, initially made on September 27, 2024, aimed to acquire all outstanding shares not already owned by Tuchman and his controlled affiliates.
The Board of Directors expressed confidence in TTEC's future as a public company under Tuchman's leadership. The company, which specializes in AI-enabled customer experience solutions, will release its Q2 2025 earnings results on August 7, 2025, after market close, followed by a webcast and conference call on August 8.
Positive
- Board maintains confidence in current leadership and public company status
- Company continues operations normally with clear communication timeline for Q2 earnings
Negative
- CEO's decision to withdraw take-private proposal due to market conditions may signal unfavorable market environment
- Uncertainty around the failed take-private attempt could impact investor confidence
News Market Reaction
On the day this news was published, TTEC declined 3.88%, reflecting a moderate negative market reaction. Argus tracked a trough of -35.6% from its starting point during tracking. Our momentum scanner triggered 76 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $10M from the company's valuation, bringing the market cap to $238M at that time. Trading volume was very high at 4.0x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
The Board of Directors has full confidence that TTEC, led by Mr. Tuchman and TTEC's executive leadership team, will continue to thrive, as a public company, in its mission to support clients in the increasingly complex CX ecosystem.
As previously reported, TTEC will release its earnings results for Q2 2025 after the market closes on Thursday, August 7, 2025. The company will then host a live webcast and conference call at 8:30 a.m. ET on Friday, August 8, 2025.
ABOUT TTEC
TTEC (pronounced T-TEC) Holdings, Inc. (NASDAQ:TTEC) is a leading global CX (customer experience) technology and services innovator for AI-enabled digital CX solutions. 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-gen digital technology, the Company's TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI and analytics solutions. The Company's TTEC Engage business delivers AI-enabled customer engagement, customer acquisition and growth, tech support, back office, and fraud prevention services. Founded in 1982, the Company'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 us at https://www.ttec.com.
Corporate Comms | Investor Relations |
Meredith Matthews | Robert Belknapp |
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SOURCE TTEC Holdings, Inc.
FAQ
Why did TTEC CEO Kenneth Tuchman withdraw his proposal to take the company private?
What was the original take-private proposal for TTEC stock?
When will TTEC release its Q2 2025 earnings?
What is TTEC's current business focus?
How has the Board responded to the withdrawal of the take-private proposal?
