Medallia to acquire Voci Technologies
Medallia, Inc., a provider in experience management, is acquiring Voci Technologies, the real-time speech to text platform, combining Voci’s leading real-time speech to text capabilities with Medallia’s powerful experience management platform.
Companies engage with customers by phone more than any other channel and these interactions are a gold mine of untapped insights. Voci’s innovative technology analyzes these signals in real time, and its AI and deep learning capabilities enable contact centers to gain actionable insights from 100% of customer calls.
Voci’s AI and deep learning capabilities, backed by expert speech scientists, generate sophisticated language models for accurate transcription of calls into highly accurate insights — such as emotion, gender, sentiment, and voice biometric identity.
Voci’s real-time platform currently serves some of the world’s biggest brands and is playing a significant role in optimizing remote contact center operations during the current surge in traffic and providing them with the fastest, most accurate call transcriptions and unmatched insights.
“Voci transcribes 100% of live and recorded calls into text that can be analyzed quickly to determine customer satisfaction, adding a powerful set of signals to the Medallia Experience Cloud,” said Leslie Stretch, president and CEO of Medallia. “At the same time, Voci enables call analysis moments after each interaction has completed, optimizing every aspect of call center operations securely. Especially important as virtual and remote contact center operations take shape.”
Voci’s platform is enterprise ready, operates at scale, and has processed over 2 billion minutes of speech using its Deep AI and machine learning capabilities.
It helps organizations stay in compliance and uses redaction methods to protect sensitive PII, PCI, and PHI on behalf of its partners and their customers.
Under the terms of the agreement, Medallia will acquire Voci for approximately $59 million in cash. The acquisition is expected to close in May 2020, subject to customary closing conditions. The company will use its revolver facility in order to preserve its current cash balance for any future needs.
For more information about this news, visit www.medallia.com or www.vocitec.com.