U.S. customer experience services provider Medallia has acquired Mexico-based rival CXTeam in an apparent bid to explore the market for SaaS platforms in Latin America.
Mexico City-based CXTeam employs around 80 persons and was founded in 2013, with its offerings including customer insight.
CXTeam previously helped Medallia implement its SaaS platform at several client locations across Latin America.
“CXTeam has been an incredible partner through the years and I am thrilled to take this next step with them,” said Leslie Stretch, CEO of Medallia. “This builds upon our momentum in the region and with CXTeam’s deep expertise and experience, we can help more organizations use Medallia Experience Cloud to drive faster ROI.”
“Organizations throughout Latin America are rapidly adopting new strategies… We have seen firsthand the incredible impact Medallia and customer experience can have on driving loyalty and directly impacting companies’ bottom lines,” says Jesús Casas, CXTeam co-founder, and partner.
San Francisco, Calif-based Medallia is not new to Latin America, where it already runs a delivery center in Buenos Aires. Listed on the New York Stock Exchange, Medallia grew into a large customer services provider after acquiring more than half a dozen smaller rivals in the past five years.
Last year, it was acquired by equity fund Thoma Bravo for US$6.4 billion.