Nuance acquires ecommerce firm for $US215M
Nuance Communications has signed a definitive agreement to acquire TouchCommerce, an existing partner in providing digital customer service and engagement solutions.
TouchCommerce provides a platform for firms to engage with their customers across web, mobile and social platforms including live chat, customer analytics and personalization solutions.
TouchCommerce will add to Nuance’s existing AI-powered customer self-service solutions.
TouchCommerce users include eHarmony, Panasonic, Telefonica and T-Mobile. While a majority of TouchCommerce customers already use Nuance solutions, less than 10% of Nuance enterprise customers currently use TouchCommerce, which is expected to create a significant growth opportunity for Nuance. In addition, the company expects to accelerate global reach for TouchCommerce through Nuance’s extensive distribution capabilities in EMEA and Asia Pacific regions.
A recent Forrester study (Don’t Make Your Customers Call You For Service,” Forrester Research, Inc., May 16, 2016) found that consumers are increasingly using self-service channels for customer service, with 66% engaging in digital self-service.
The acceleration of digital customer service solutions is expected to expand Nuance’s opportunities in the Customer Engagement market, a $US3.7 billion market that is growing at 17% (RnR Market Research, December 2015).
“The combination of Nuance and TouchCommerce promises to disrupt the customer service industry by bringing together the best of self-service and the best of assisted-service solutions, each magnified by the power of artificial intelligence,” said Robert Weideman, executive vice president and general manager for Nuance Enterprise Division.
“The result provides enterprises with a customer engagement solution that connects with consumers anytime and anywhere, across voice, digital and mobile devices – delivering superior customer experiences and business results.”