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Eckoh Announces Acquisition of Syntec Holdings
Customer engagement/payment solutions company Eckoh recently announced it has officially acquired Syntec Holdings, a UK-based contact center payment solution provider. Eckoh agreed to acquire Syntec for £31 million (or $41 million), with the intention of using Syntec solutions to expand upon its own product portfolio.
In recent years, Syntec has built a solid reputation among enterprises across the world, providing payment solutions in regions including the UK, EU, and Australia. The company is also experiencing impressive growth in US markets, with the company noting 70% of all new clients are based in the United States. Eckoh leaders were anxious to join forces with Synetc after recognizing the company’s products, services, and business mentality were in line with Eckoh’s own strategy.
“For over a decade Eckoh has been helping organizations to combat the compliance and security challenges caused by the transmission of customer’s personal data and payment information over the phone and other engagement channels,” commented Nik Philpot, CEO of Eckoh. “With the acquisition of Syntec, we can leverage their technology, product and IP to further enhance our security solutions, scale our go-to-market efforts and expand our world-class team.”
Although digital payment solutions are abundant and widely available, the need for increased security components is becoming a necessity for new and current customers, especially as hackers attempt to steal and exploit valuable customer data. The combination of talents from both Eckoh and Syntec could make the unified company a trustworthy, single-source provider in the increasingly competitive payment solution market.
“The security challenges for organisations are only growing and by bringing together two successful teams and businesses that are so complementary, it will create an even stronger combined Group that will enable us to offer our mutual clients a broader portfolio of market-leading engagement security solutions.” added Colin Westlake, CEO of Syntec. “We look forward with excitement and optimism to the future prospects of combining our proven skills and technology to help combat whatever new security challenges may present themselves.”
Edited by Maurice Nagle