Teleperformance, a provider of digital business services, will acquire ZP Better Together, a provider of language solutions and technology platforms to the deaf and hard of hearing community in the United States, from Kinderhook Industries, a U.S. private investment firm, for $490 million.
ZP will become part of Teleperformance's Specialized Services company LanguageLine Solutions.
"ZP serves as an outstanding enhancement to our existing LanguageLine Solutions business. I am delighted to extend a warm welcome to the entire ZP team, whose capabilities will complement and enhance our ability to serve our clients," said Thomas Mackenbrock, Teleperformance's group deputy CEO, in a statement. "The development of our Specialized Services is a core pillar of our strategy. As we accelerate the integration of AI solutions across all our services, we remain equally committed to the ongoing value-enhancing development of our Specialized Services. These services are designed to address highly specific demands that require critical knowledge and distinctive expertise, while ensuring long-term value and meaningful impact."
"Enabling the deaf and hard-of-hearing to communicate effectively with the hearing world provides an essential service. Serving this community is a responsibility we take very seriously," said Scott Klein, CEO of TP's Specialized Services, in a statement.
"At ZP, we are committed to innovative, accessible, and equitable communications solutions, and we are proud to be the leading provider of video relay services for the deaf and hard-of-hearing communities. As we join forces with LanguageLine Solutions, we are proud to align with an organization that shares our mission, principles, and the same high standards of excellence that continue to set ZP apart. We look forward to combining our expertise and resources to further our collective goal of fostering meaningful connections for everyone, and we are thrilled to be a part of the Teleperformance family," said Sherri Turpin, president and CEO of ZP Better Together, in a statement.