ALJ REGIONAL HOLDINGS, INC. COMPLETES SALE OF TOLLING AND TRANSPORTATION AND HEALTH BENEFIT EXCHANGE VERTICALS OF FANEUIL, INC.

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[{"type":"text","content":"NEW YORK, April 4, 2022 /PRNewswire/ -- ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) (\"ALJ\") announced today that it has completed the previously announced sale of the tolling and transportation and health benefit exchange verticals of its wholly owned subsidiary, Faneuil, Inc. (\"Faneuil\"), to TTEC Holdings, Inc. (NASDAQ: TTEC) (\"TTEC\"), one of the largest global customer experience (\"CX\") technology and services innovators for end-to-end digital CX solutions. The transaction was completed pursuant to an Asset Purchase Agreement that was announced on December 22, 2021, as amended by that certain Amendment to the Asset Purchase Agreement dated April 1, 2022. Consideration paid by TTEC at closing is $142.3 million, less an indemnification escrow amount and certain holdback amounts for contracts yet to be assigned. Faneuil is also eligible to receive additional earn-out payments in an aggregate amount of up to $25 million.\nOther Faneuil verticals, including its utilities, non-health benefit exchange, commercial and other verticals, as well as Vistio, a wholly owned subsidiary of Faneuil, which incorporates software tools and methodologies to improve and optimize the contact center agent experience, will remain at Faneuil and Faneuil will continue to operate as a wholly owned subsidiary of ALJ.\nAbout FaneuilFor more than 25 years, Faneuil (www.faneuil.com) has specialized in designing, implementing managing and operating multichannel customer care, back‐office business processing, and Solution as a Service (SaaS) offerings for government and commercial clients operating in complex, highly regulated environments nationwide. Headquartered in Hampton, Virginia, Faneuil delivers broad support to several diverse industries, including health and human services, transportation and tolling, utilities, state and municipal governments, and commercial/retail services. With an unrelenting focus on creating consistently positive customer experiences, Faneuil's customer care professionals are intent on building the brands and reputations of its client partners every day.\nAbout ALJ ALJ Regional Holdings, Inc. is the parent company of (i) Faneuil, Inc., a leading provider of call center services, back office operations, staffing services, and toll collection services to commercial and governmental clients across the United States, and (ii)...

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