TTEC Resolves Cyber Incident
TTEC became aware of the cyber incident on Sunday, September 12 and immediately started remediation and recovery efforts. The company isolated the systems involved and took other remedial measures to contain the incident. The company also launched a comprehensive investigation into the cyber incident and is using the findings of the investigation to harden its cyber security defenses. Despite early disruptions to its business, TTEC is now operational around the world.
“TTEC moved quickly and decisively to identify, contain, and resolve the cyberattack,” said Ken Tuchman, TTEC chairman and CEO. "In just five days our team moved aggressively to rebuild and further solidify our processes and infrastructure. TTEC continues to prioritize our client and people-facing processes and systems.”
“I am humbled by the effort and resilience that the TTEC family showed during the past few days, and their continued hard work to support our clients. Our expertise in business continuity and incident response allowed us to continue to serve our clients, despite the many complications presented in this incident,” said Tuchman.
The company has worked through the initial recovery measures, hardened its cyber security, is in the process of completing its investigation, and assessing the business impact of the incident.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements relating to the extent of the ransomware incident and the resulting business impact, the outcome of the company’s investigation of the incident, and the company’s potential responses to the incident. These statements are based on the current beliefs and expectations of TTEC Holdings, Inc.'s management and are subject to significant risks and uncertainties. We caution you not to rely unduly on any forward-looking statements. Actual results may differ materially from those expressed in the forward-looking statements, and you should review and consider carefully the risks, uncertainties and other factors that affect our business and may cause such differences as outlined in Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2020 and any subsequent filings with the U.S. Securities and Exchange Commission (the "SEC") and is available on TTEC's website www.ttec.com, and on the SEC's public website at www.sec.gov. Specifically, important factors that could cause our actual results to differ materially from those indicated in the forward looking statements include, among others, risks related to our business operations and strategy, including our strategy execution in a competitive market; our ability to innovate and introduce technologies that are sufficiently disruptive to allow us to maintain and grow our market share; our dependance on 3rd parties for our cloud solutions; the impact of COVID-19 on our business and our clients' business; risks inherent in our rapid transition to a work from home environment; our ability to attract and retain qualified and skilled personnel at a price point that we can afford and our clients are willing to pay; our M&A activity, including our ability to identify, acquire and properly integrate acquired businesses in accordance with our strategy; the risks related to our technology, including cybersecurity and cyber-attacks, the reliability of our information technology infrastructure and our ability to consistently deliver uninterrupted service to our clients; the risk related to our international operations; the risks related to legal impacts on our operations, in particular rapidly changing laws that regulate our and our clients' business, such as data privacy and data protection laws and healthcare, financial and public sector specific regulations, our ability to comply with these laws timely, and cost of wage and hour litigation in the United States; and risks inherent in our equity structure including our controlling shareholder risk, and Delaware choice of dispute resolution risks. TTEC Holdings, Inc. does not undertake to update any forward-looking statements.
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