TDCX Poised to Capture Opportunities from the US$100 Billion Outsourced CX Services Market with Trading Debut on the NYSE
Posted Oct 2, 2021 17:49 (GMT +7)
Asia’s first digital customer experience services provider to list in the U.S.
SINGAPORE & NEW YORK--(BUSINESS WIRE)--Oct. 01, 2021
TDCX Inc. (NYSE: TDCX), a high-growth digital customer experience solutions provider for technology and blue-chip companies, announced its listing on the New York Stock Exchange (“NYSE”). As a listed company, TDCX is well-positioned to accelerate its growth strategy to capture opportunities from the global outsourced customer experience (“CX”) services market, which is expected to be worth US$100 billion by 20251.
Headquartered in Singapore, TDCX provides trusted digital CX solutions to help fast-growing technology companies and other globally recognised brands manage complex and critical customer interactions on their behalf. The IPO raised US$348.5 million in gross proceeds, taking the company’s market value to US$2.57 billion or S$3.50 billion2. Should the underwriters choose to exercise their over-allotment option in full, the total gross proceeds of the offering will be approximately US$401 million, taking the company's market value to US$2.62 billion or S$3.57 billion3.
Mr. Laurent Junique, Chief Executive Officer and Founder of TDCX, said, “Our successful listing reflects the world-class company that we have built and our position as the go-to partner for transformative digital customer experience services. Through our more than 13,000 talented, multi-ethnic and multi-cultural team members who are at the heart of our operations, we help our clients solve their most complex and demanding customer interactions in more than 20 languages daily across 10 geographies. We are grateful for the support of our clients, many of whom are global technology companies that are fuelling the growth of the digital economy.”
According to Frost & Sullivan, there is a large and rapidly expanding market for digital CX solutions. In Southeast Asia, total demand is expected to reach US$14 billion by 2025, with demand from New Economy industries spearheading the growth at 19 per cent compound annual growth rate from 20164.
“As consumers live more and more of their lives online, the expectation for things to be done simply, conveniently and on-demand will only increase. Customer experience is and will continue to be a differentiator for brands in the digital age. Being a public company enables us to accelerate our growth momentum and positions us to capture market opportunities in Asia and other high-growth regions globally.
“As we look ahead, we are focused on executing our growth strategy and further investing in our people, technology and network. With our strong understanding of consumer needs, particularly in Asia, strategic presence in key markets and diverse talent pool, we will be able to continue anticipating and supporting our clients as they look for a partner that is at the forefront of delivering transformative customer experiences,” Mr. Junique said.
TDCX is a high-growth digital customer experience solutions provider for innovative technology and other blue-chip companies. The Company offers omnichannel CX solutions, sales and digital marketing services and content monitoring and moderation services. The Company has a track record of success with clients in travel and hospitality, digital advertising and media, fast-moving consumer goods, technology, financial services, fintech, government and non-governmental organisations, gaming, e-commerce and education. TDCX has an international footprint with offices in Singapore, the Philippines, Malaysia, Thailand, China, Japan, Spain, India, Colombia and Romania, and services its clients’ customers globally in more than 20 languages. TDCX has won over 270 awards.
1 According to Frost & Sullivan.
2,3Based on exchange rate of SGD/USD=1.36141.
4 The compound annual growth rate refers to the New Economy market size from 2016 to 2025E.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211001005456/en/
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