US BPO provider Teletech has acquired a majority stake in Motif for US$46.9 million, expanding its operations into India.
With two delivery centers in Ahmedabad, India and Manila, Philippines, Motif specializes in digital trust and fraud prevention services. Analysts say the acquisition helps Teletech strengthen its analytics and artificial intelligence capabilities.
Founded in 2000, Motif also provides omnichannel contact centers for e-commerce, travel and financial services firms. The Indian firm has about 2,800 workers, and a corporate office in San Mateo, California.
According to VCcircle, Teletech will purchase the remaining stake in the company by May 2020, with Motif’s founders joining Teletech soon after.
“Digital safety is a lightning rod issue impacting every brand that does business online,” said Ken Tuchman, chairman and CEO of Teletech, explaining why his company purchased a stake in Motif. “Companies everywhere are rushing to invest in building safe environments to protect their customers and their brands from digital fraud.”
Motif’s technology solutions will enable Teletech to implement a fraud prevention service for its call center customers.
Kaushal Mehta, founder and CEO of Motif, says that there is a growing demand for safety services as cyber attacks have become a perennial threat. “We are excited to bring our capabilities to new geographies and industries through Teletech’s exceptional portfolio of blue chip clients.”
Teletech has not disclosed financial details of the deal, but according to Indian business daily Mint, the acquisition has valued Motif at around US$75-100 million.
Teletech, founded in 1982, has employed more than 49,500 people across the world, including Latin America, where it runs delivery centers in Costa Rica, Brazil and Mexico.