Medallia has agreed to pick up US-based Stella Connect, a real-time feedback, coaching and quality management platform, for USD 100.00 million in cash.
The deal, which is due to complete this month, remains subject to customary closing conditions.
Headquartered in New York, Stella Connect’s platform allows contact centres and customer service teams to drive sales, reduce agent attrition and streamline their quality assurance processes.
The group’s Active Engagement technology delivers customer feedback in real time, which can be shared with agents to help increase employee motivation, engagement and retention.
Stella Connect’s software also identifies coaching opportunities for organisations with full or partially distributed workforces.
Launched in 2009, the target has been focused on optimising efficiencies and increasing employee engagement as contact centres move towards virtual working environments, especially during ongoing Covid-19 pandemic.
Stella Connect serves some of the world’s leading brands, including Mercedes-Benz, Walmart, ESPN and Warby Parker.
Its client advisory board also includes companies such as Daily Harvest, Lemonade and Choice Hotels.
Leslie Stretch, president of Medallia, said: “Combining Stella Connect with Medallia Experience Cloud and Medallia’s new Speech Technology creates the work from anywhere contact centre.
“Increased automation of contact centre workflow lets agents focus on higher value, higher priority interactions addressing industry wide high staff turnover.”
San Francisco-headquartered Medallia is a customer experience management company, which serves over 1,000 clients worldwide, including Airbnb, IBM and Samsung.
Its software-as-a-service platform, Medallia Experience Cloud, helps businesses to create cross-sell and up-sell opportunities, drive revenue and gain returns on investments.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 2,955 deals targeting software publishers announced globally in 2020 to date.
In the most valuable of these, Aveva Group agreed to buy US-based OSIsoft for USD 5.00 billion. Insight Holdings group also snapped up Veeam Software Holding for the same amount.
© Zephus Ltd