Update from TTEC Special Committee

Rhea-AI Summary

TTEC Holdings (NASDAQ: TTEC) Special Committee has completed its review of the non-binding proposal from founder, Chairman and CEO Kenneth Tuchman to acquire remaining shares at $6.85 per share. The proposal, initially received on September 27, 2024, aims to purchase all shares not already owned by Tuchman and his controlled affiliates.

The Special Committee, supported by Rothschild & Co as financial advisor and Skadden, Arps, Slate, Meagher and Flom LLP as legal advisor, has finished its preliminary valuation analysis and remains open to engaging with Tuchman regarding a definitive transaction proposal. No immediate action is required from non-affiliated stockholders, and there is no guarantee of a definitive agreement or transaction completion.

Positive

• Special Committee completed review and valuation analysis
• Company maintains openness to engage in transaction discussions

Negative

• No definitive agreement reached yet
• Uncertainty about transaction completion
• Initial offer of $6.85 per share is non-binding

DENVER, April 1, 2025 /PRNewswire/ -- The Special Committee of the Board of Directors (the "Special Committee") of TTEC Holdings, Inc. (NASDAQ: TTEC) ("TTEC" or the "Company") is providing an update on the status of its review and evaluation of the previously announced unsolicited, preliminary, non-binding proposal letter, dated September 27, 2024, from TTEC founder, Chairman and Chief Executive Officer Kenneth Tuchman, to acquire the shares of the Company's common stock not already owned by Mr. Tuchman and his controlled affiliates at a proposed purchase price of $6.85 per share (the "Non-Binding Proposal").

The Special Committee, with the assistance of Rothschild & Co, its independent financial advisor, and Skadden, Arps, Slate, Meagher and Flom LLP, its independent legal advisor, has completed its review of the Non-Binding Proposal and its preliminary valuation analysis of the Company, and remains ready to consider and engage with Mr. Tuchman with respect to a definitive transaction proposal.

At this time, no action is required by TTEC's non-affiliated stockholders. There can also be no assurance that any definitive agreement will be executed relating to any transaction proposal, the timing and conditionality thereof or that any transaction will be consummated. The Special Committee does not undertake any obligation to provide any updates with respect to any proposal or transaction, except as required under applicable law.

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:
Meredith Matthews
meredith.matthews@ttec.com

Investor Relations:
Robert Belknapp
investor.relations@ttec.com

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SOURCE TTEC Holdings

FAQ

What is the offer price per share in Kenneth Tuchman's proposal to acquire TTEC Holdings?

Kenneth Tuchman proposed to acquire TTEC shares at $6.85 per share according to the non-binding proposal dated September 27, 2024.

Who are the financial and legal advisors assisting TTEC's Special Committee?

Rothschild & Co serves as the independent financial advisor, while Skadden, Arps, Slate, Meagher and Flom LLP acts as the independent legal advisor.

What is the current status of TTEC's Special Committee review of the buyout proposal?

The Special Committee has completed its review of the non-binding proposal and preliminary valuation analysis, and remains ready to engage with Tuchman on a definitive transaction proposal.

Do TTEC shareholders need to take any action regarding the buyout proposal?

No immediate action is required from TTEC's non-affiliated stockholders at this time.