Medallia, Inc. (NYSE: MDLA), the global provider of experience management has announced they entered into a definitive agreement to acquire Voci Technologies, the real-time speech to text platform, the company said.
The acquisition will combine Voci´s real-time speech to text capabilities with Medallia´s powerful experience management platform to deliver a rich, single view of the customer that can power exceptional customer experience and deliver significant gains in operational efficiency.
Under the terms of the agreement, Medallia will acquire Voci for approximately USD 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.
Medallia is the pioneer and market provider of Experience Management. For more, visit www.medallia.com
Pittsburgh-based Voci Technologies combines artificial intelligence (AI) and deep learning algorithms to deliver the best-in-class enterprise speech transcription platform. To learn more about Voci, visit www.vocitec.com.