Concentrix acquires Convergys for over 2B USD

Yesterday, June 28, SYNNEX Corporation has announced its acquisition of Convergys.

SYNNEXConcentrix has confirmed that they did acquire the IT service management company, Convergys. The two corporation have come to an agreement in which Convergys will be integrated with Concentrix, a wholly-owned subsidiary of SYNNEX Corporation.

Convergys was acquired for approximately $2.43 Billion. According to the terms of agreement, both corporations’ shareholder will receive a certain number of shares, both in cash and stock.

Convergys’ shareholders will have $13.25 per share in cash and 0.1193 shares for each share of Convergys common stock, subject to a two-way collar.

“We are pleased to have reached this agreement, which provides important benefits for all of our stakeholders, including our shareholders, who will receive an immediate premium in addition to value from their equity participation in the growth and synergies resulting from the combination of Convergys and SYNNEX,” said Adrea Ayers, President and Chief Executive Officer, Convergys.

With the combined talents of all employees from both corporation, they promised to bring a better result to their clients and customers. They assure everyone that the merge of the two companies will not affect the way they work. Instead, it will be a way for them to improve their services and for their clients to have a better experience.

By the end of 2018, the transaction is expected to close prior to the approval of shareholders from both companies, the receipt of regulatory approvals and other customary closing conditions. Following the approval of both companies’ board of directors.

With this Concentrix’ leadership position in the industry has accelerated and resulted for them to bring services from the talents of both organizations. Also, enabling them to create a premier global customer engagement services company.

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Anylyn Abian
Anylyn Abian