Latest news with #customer experience
Yahoo
14 hours ago
- Business
- Yahoo
NiCE signs deal to acquire Cognigy
US-based technology company NiCE has signed a definitive agreement to acquire conversational AI and automation provider Cognigy. The deal acquisition places Cognigy's valuation at approximately $955m, which includes a holdback of around $50m. This holdback consists of $25m in cash and 158,000 American Depositary Shares. The transaction has been unanimously approved by NiCE's Board of Directors. It plans to finance the deal through existing funds. The acquisition is set to integrate Cognigy's advanced AI capabilities into NiCE's CXone Mpower platform. It will enable organisations to accelerate AI adoption in customer experience across the front and back office. NiCE CEO Scott Russell said: 'This is a landmark moment for NiCE, a strategic move that fast-tracks our AI innovation agenda and sets a new standard for customer experience in the AI era. 'By bringing a market leader in enterprise-grade conversational and agentic AI into the fold, we are accelerating global AI adoption, expanding into new global markets, and creating game-changing value for our customers, partners, and shareholders. Together, we are significantly advancing the future of AI-first customer experience.' Cognigy's main platform, allows enterprises to use AI agents capable of independent thinking, adaptation, and action to provide human-like services. These agents, available in over 100 languages and on various channels, offer instant personalised service. According to the company website, Cognigy counts companies such as Lufthansa Group, Toyota, Lidl International, Bosch, and DHL as its customers. Cognigy CEO and co-founder Philipp Heltewig said: 'NiCE is an exceptional organisation whose global reach, deep expertise, and relentless focus on innovation will accelerate our growth and enhance the value we bring to our customers and partners. 'Together, we are uniquely positioned to shape the future of customer experience, uniting the best of trusted AI and human interactions.' The deal is projected to close in the fourth quarter of 2025, contingent upon regulatory approvals and other closing conditions. "NiCE signs deal to acquire Cognigy" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Why Nice Stock Popped Today
Key Points Nice acquired conversational and agentic artificial intelligence specialist Cognigy for $955 million. The two AI leaders combine to form a powerhouse in the customer experience niche. With Nice's AI-related and self-service sales already growing by 39% prior to the deal, the company is launching full-speed ahead into today's most important technology. 10 stocks we like better than Nice › Shares of enterprise software leader Nice (NASDAQ: NICE) rose 6% as of noon ET on Monday, according to data provided by S&P Global Market Intelligence. True to its artificial intelligence (AI) focus, Nice acquired agentic AI specialist Cognigy for $955 million this morning. This acquisition prompted a positive reaction from the market, and I think it is deserved. Nice: AI innovator, not disruptee Back in June, I wrote about Nice as a potential once-in-a-decade opportunity. At the end of the article, I explained, "It'll be of the utmost importance to keep an eye on Nice's AI sales in each quarterly update and ensure the company remains the AI innovator, not the disruptee." Acquiring Cognigy today, Nice reinforced its chances of remaining an AI innovator, rather than a disruptee. By adding Cognigy, Nice added new conversational and agentic capabilities to its customer experience platform, which accounts for 75% of its sales. The Cognigy AI platform offers its services in over 100 languages and serves more than 1,000 brands, including Adidas, Toyota Motor, and Nestle. Despite its start-up nature, Cognigy was already recognized as a leader in conversational AI according to rankings from Gartner Magic Quadrant and Forrester Wave reports. With Nice itself already counting 85 Fortune 100 companies as customers, this union creates an AI powerhouse in the realms of contact centers as a service and customer engagement in general. In the first quarter of this year, Nice grew its AI-related and self-service sales by 39%. Adding Cognigy's AI capabilities, client list, and cross-selling potential should only add fuel to this fire. Even after today's pop, Nice still trades at just 15 times free cash flow. This discounted valuation, paired with Cognigy's addition, keeps Nice a once-in-a-decade opportunity in my eyes. Should you invest $1,000 in Nice right now? Before you buy stock in Nice, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nice wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 28, 2025 Josh Kohn-Lindquist has positions in Adidas Ag. The Motley Fool has positions in and recommends Nice. The Motley Fool recommends Gartner and Nestlé. The Motley Fool has a disclosure policy. Why Nice Stock Popped Today was originally published by The Motley Fool Sign in to access your portfolio
Forbes
2 days ago
- Business
- Forbes
Why Leadership Is Key To The Customer Experience
Marie Unger, Chief Executive Officer, Emergenetics International. When it comes to the customer experience, we now live in a world where convenience, speed and personalization are not only possible—they're standard. As a result, service expectations have skyrocketed. One study found that 73% of buyers expect better personalization as technology advances, and 67% expect a resolution to a reported issue within three hours. With access to countless choices and instant feedback channels, poor interactions can prompt customers to switch to a competitor. PwC found that 1 in 3 customers will walk away after a single bad experience, even with a brand they love. With increasing demand for real-time updates, immediate support and tailored experiences across every touchpoint, a new bar has been set for all industries, not only e-commerce and technology. As businesses strive to adapt, they often find that their internal structures can't keep up with evolving expectations. The widening gap between the demands of clientele and what organizations can deliver has resulted in what I believe is a customer experience (CX) crisis. So, what can be done to address this challenge? The Role Of Management In CX Success When companies struggle with client experience, it's common to focus on front-line staff or outdated systems. However, these symptoms often reflect deeper organizational challenges, particularly in management. When leaders are misaligned on priorities and lack the training they need to empower their staff, teams suffer and so do consumers. Let's look at a hypothetical scenario to see how this domino effect takes shape: A B2C company integrates a service chatbot to increase efficiency. Supervisors are unclear on its effects on customer-related key performance indicators, leading to mixed messages for their staff. Employees become confused as to when they should step in to communicate with a consumer or let the chatbot handle questions. Service quality declines and wait times grow. Customers sense the difference and don't hesitate to take their business elsewhere. In addition to affecting employee performance, management has a significant impact on another essential element of client service: employee satisfaction. A growing body of research shows a direct link between engaged employees and happy buyers. According to Gallup, companies with highly engaged personnel report 10% higher customer loyalty and engagement and 23% more profitability. When staff feel motivated, valued and understand the goals they are working toward, they are more likely to deliver empathetic, proactive service. Conversely, when employees feel underappreciated or unsure of their priorities, their demeanor and performance often suffer. Simply put: We can't expect a disengaged workforce to create five-star buying experiences. Using Leadership Development To Promote CX Success Supervisors are typically positioned at the intersection of leadership strategy and client-facing execution. They're responsible for translating vision into action and guiding their teams through competing demands. They also have a distinct opportunity to create alignment, rally their staff and empower their employees to succeed. These valuable competencies take time to build and, unfortunately, LinkedIn's Workplace Learning Report found that half of supervisors lack proper support. Without effective development, people leaders may struggle with translating top-down directives into team actions and objectives, leading through large-scale change, motivating personnel under pressure and empowering staff to elevate productivity and performance. These skills are essential in both engaging the workforce and supporting their capacity to positively shape the customer journey. To bridge the gap between internal operations and external expectations, management training is a vital component of a successful CX strategy. Effective development programs should include: More formalized training and feedback sessions can help managers develop the ability to support, encourage and grow their teams rather than solely dictating tactics. It's important to teach leaders how to manage stress, cultivate strong working relationships, navigate interpersonal dynamics and de-escalate tense situations. Clear frameworks can enable supervisors to prioritize competing demands, allocate resources effectively and think strategically under pressure. Avoid micromanagement by empowering teams with ownership at every level. Encourage a culture of continuous improvement through routine, honest and kind communication. The CX crisis is not just a service issue—it's a leadership challenge. It stems from a disconnect between what organizations value and how they train their people to deliver on those priorities. The majority of consumers want more human interaction and that begins with positive internal relationships between employees and their bosses. I believe the companies that will thrive in this era of high expectations will be the ones that understand this truth: Inspired customer experience begins with inspired leadership. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Globe and Mail
2 days ago
- Business
- Globe and Mail
NiCE to Acquire Cognigy - Advancing the Leading CX AI Platform to Accelerate AI-First Customer Experience
NiCE (NASDAQ: NICE), a global leader in AI-powered customer experience, today announced that it has entered into a definitive agreement to acquire Cognigy, a global market leader in conversational and agentic AI. This strategic acquisition unites NiCE's market-leading CXone Mpower platform with Cognigy's leading conversational and agentic AI capabilities, enabling organizations to rapidly accelerate the adoption of AI-first customer service delivery, orchestrating AI agents seamlessly across the front and back office in a unified CX AI platform powered by purpose-built CX AI models. 'This is a landmark moment for NiCE, a strategic move that fast-tracks our AI innovation agenda and sets a new standard for customer experience in the AI era,' said Scott Russell, CEO of NiCE. 'By bringing a market leader in enterprise-grade conversational and agentic AI into the fold, we are accelerating global AI adoption, expanding into new global markets, and creating game-changing value for our customers, partners, and shareholders. Together, we are significantly advancing the future of AI-first customer experience.' Cognigy's flagship platform, enables enterprises to deploy AI agents that think, adapt, and act independently to deliver human-like service. Available in over 100 languages and on any channel, these agents deliver instant personalized service—freeing human agents to focus on complex, high-value interactions. Cognigy serves top-tier brands including Mercedes-Benz, Nestlé, and Lufthansa Group with demonstrated success, and is expected to deliver rapid 80% estimated ARR growth in 2026. Philipp Heltewig, Co-Founder and CEO of Cognigy, added, 'This transaction represents a pivotal step forward for Cognigy, one that brings immense opportunity for our customers and employees. NiCE is an exceptional organization whose global reach, deep expertise, and relentless focus on innovation will accelerate our growth and enhance the value we bring to our customers and partners. Together, we are uniquely positioned to shape the future of customer experience, uniting the best of trusted AI and human interactions.' NiCE's Board of Directors unanimously approved the agreement to acquire Cognigy in a transaction that values Cognigy at approximately $955 million. The transaction value includes an approximate $50 million time-bound holdback which is comprised of $25 million in cash and 158,000 American Depositary Shares. The transaction will be financed with funds on-hand and closing is subject to customary closing conditions, including receipt of regulatory approvals, the timing of which is dependent on applicable regulatory authorities. The transaction is expected to close in the fourth quarter of 2025. Company Conference Call NiCE management will host a conference call today, July 28, 2025, at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the acquisition of Cognigy. A live webcast and replay will be available on the Investor Relations page of the Company's website. To access, please register by clicking here: Jefferies LLC is acting as exclusive financial advisor to NiCE with respect to the contemplated acquisition. Qatalyst Partners is acting as exclusive financial advisor to the sellers with respect to the contemplated acquisition. About NiCE NiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE's platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes. About Cognigy Cognigy is transforming the customer service industry with its leading advanced AI Agent platform for enterprise contact centers. Its award-winning solution, Cognigy AI, empowers enterprises to deliver instant, hyper-personalized, multilingual service on any channel. By integrating Generative and Conversational AI to create Agentic AI, Cognigy delivers AI Agents that redefine customer experiences, drive satisfaction, and support contact center employees in real-time. Over 1,000 brands worldwide trust Cognigy and its vast partner network to create AI customer service agents for their contact center. Cognigy's impressive worldwide customer portfolio includes Bosch, Nestlé, DHL, Frontier Airlines, Lufthansa Group, Mercedes-Benz and Toyota. Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking Statements This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Russell, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the 'Company'). In some cases, such forward-looking statements can be identified by terms such as 'believe,' 'expect,' 'seek,' 'may,' 'will,' 'intend,' 'should,' 'project,' 'anticipate,' 'plan,' 'estimate,' or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to significant transaction costs associated with the proposed transaction, the Company's inability to close the acquisition of Cognigy due to the failure to obtain required regulatory approvals, satisfy other conditions to the closing of the proposed transaction, or for any other reason; the failure to close the proposed transaction in the timeframe anticipated; the Company's inability to recognize the anticipated benefits of the Cognigy acquisition or effectively integrate Cognigy into the Company; the Company's incurrence of unexpected costs, liabilities or delays arising from the transaction or the integration of Cognigy into the Company; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive acquisition agreement; the potential impact of the acquisition on relationships with the Company's or Cognigy's commercial counter-parties, including, but not limited to, its partners and distributors; the impact of changes in general economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or on going events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the 'SEC'). For a more detailed description of the risks and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
Zawya
3 days ago
- Business
- Zawya
Khedmah partners with Prepay Nation to introduce international mobile recharge across 16 countries via its app
Muscat: As part of its ongoing efforts to enhance customer experience and expand its digital offerings, Khedmah has launched an international mobile recharge service in collaboration with Prepay Nation, now available through the Khedmah app under the E-Store section. This new feature aims to meet the needs of a large segment of residents and expatriates in the Sultanate of Oman who wish to stay connected with their families and friends in their home countries. The new service allows users to recharge mobile phone balances across 16 countries, in collaboration with over 43 international telecom operators. The currently supported countries include Afghanistan, Australia, Benin, Botswana, Egypt, India, Indonesia, Ivory Coast, Kenya, Malawi, Nepal, the Philippines, Sierra Leone, Sri Lanka, the United Arab Emirates, and Zimbabwe. In this context, Zaaima Al Qasimi, Senior Manager - Business Development at Khedmah, said: "Through this service, we aim to facilitate communication between individuals and their families around the world by offering a secure and fast digital experience. The launch of this service is part of our broader strategy to expand our digital offerings and meet the aspirations of customers both within and beyond the Sultanate." This service offers several key advantages, including ease of use, the ability to top up mobile recharge anytime and anywhere, and direct technical support through official communication channels—providing users with a seamless and reliable experience. Khedmah confirmed that this addition marks a significant milestone in its digital transformation journey and reflects its continued commitment to delivering smart solutions that simplify daily life and address users' evolving needs. The company also noted that the service will be officially available once necessary permissions are secured, with future plans to expand the list of supported countries and telecom operators. Khedmah invites all users to download the app, explore its various features, and share their suggestions to support the development of more high-quality services. It is worth noting that Khedmah has been a leader in billing and collection services. The company provides a central hub for customers to pay various bills, including electricity, water, communications, traffic fines, vehicle insurance, entertainment channel subscriptions, charity donations, and many other services. These services are available through the company's widespread branch network, covering most regions in Oman, as well as its electronic platforms, including the Khedmah app and website.
