Medallia, Inc. (NYSE: MDLA), a San Francisco, Calif.-based global leader in experience management, is to acquire Voci Technologies, a provider of a real-time speech to text platform.
Under the terms of the agreement, expected to close in May 2020, subject to customary closing conditions, Medallia will acquire Voci for approximately $59m in cash.
The acquisition will combine Voci’s real-time speech to text capabilities with Medallia’s experience management platform to deliver a single view of the customer that can power enhanced customer experience and deliver significant gains in operational efficiency.
Companies engage with customers by phone more than any other channel and these interactions are a gold mine of untapped insights. Voci’s 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.
The company’s artificial intelligence (AI) and deep learning capabilities, backed by expert speech scientists, generate language models for accurate transcription of calls into accurate insights — such as emotion, gender, sentiment, and voice biometric identity. This comprehension of a customer’s intended meaning enables contact centers to operate at elevated levels of impact. 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 allows organizations to stay in compliance and uses redaction methods to protect sensitive PII, PCI, and PHI on behalf of its partners and their customers.
Led by Mike Coney, CEO, Voci serves some of the world’s biggest brands.
Led by Leslie Stretch, president and CEO, Medallia provides a SaaS based experience management platform, which understands and manages experience for customers, employees and citizens. The solution captures experience signals created on daily journeys in person, digital and IoT interactions and applies proprietary AI technology to reveal personalized and predictive insights that can drive action with high business results. Using the Medallia Experience Cloud, customers can reduce churn, turn detractors into promoters and buyers, and create in-the-moment cross-sell and up-sell opportunities, providing clear returns on investment.