FREMONT, Calif. and SYDNEY, July 20, 2017 /PRNewswire/ -- Concentrix Corporation, a wholly owned subsidiary of SYNNEX Corporation (NYSE: SNX), and Tigerspike today announced a definitive agreement in which Concentrix will acquire Tigerspike. Alex Burke, CEO of Tigerspike, will stay as the leader of Tigerspike and join Concentrix' senior executive staff, reporting to Chris Caldwell, President of Concentrix.
This transaction is intended to enhance Concentrix' digital competencies and drive further differentiation and growth in the market place through Tigerspike's digital domain expertise. Tigerspike is a digital products and strategy company founded in 2003. The company's unique approach blends technology with human expertise to deliver business outcomes, such as improvements in efficiency, productivity and employee engagement, fast for its clients. It has a full suite of digital competencies (strategy, experience design, platform and mobile application development and systems integration), with a focus on enterprise mobility.
The transaction aligns with Concentrix' stated strategy to further invest in digital and enabling technologies to create effortless, personalized customer engagements and improved business intelligence and performance for its clients.
"Tigerspike has established itself as a high-value enterprise player in digital products and strategy. It's capabilities and solutions in "Business Digital" stand out and meet a fast-growing market demand, which we believe we will be able to leverage across our combined client base," said Chris Caldwell, President of Concentrix. "This acquisition is intended to increase Tigerspike's speed to market of these solutions and provide us new opportunities for expansion. Tigerspike's approach of blending technology, human expertise, and the use of data and digital to enhance value to clients through analytics and business success metrics is both needed and extremely exciting to our
"This is an exciting step on our journey for Tigerspike as we continue to scale out our practice, products and approach globally," said Alex Burke, CEO of Tigerspike. "Our vision is to transform businesses by empowering leaders to make better decisions, both now and in the future. Concentrix shares this vision and our ambition to deliver business results, faster. Our team, clients and partners can only benefit from Concentrix and Tigerspike coming together."
Tigerspike has operations in Australia, Singapore, UAE, Japan, USA, Poland, and the UK, and adds approximately 300 staff to Concentrix.
It is anticipated that the transaction will close in Q3 2017, subject to the satisfaction or waiver of customary closing conditions. Until the transaction is completed, the companies will continue to operate independently.
SYNNEX Corporation (NYSE: SNX) is a Fortune 500 corporation and a leading business process services company, providing a comprehensive range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy to a broad range of enterprises. SYNNEX distributes a broad range of information technology systems and products, and also provides systems design and integration solutions. Concentrix, a wholly-owned subsidiary of SYNNEX Corporation, offers a portfolio of strategic solutions and end-to-end business services around customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation to clients in ten identified industry
verticals. Founded in 1980, SYNNEX Corporation operates in numerous countries throughout North and South America, Asia-Pacific and Europe. Additional information about SYNNEX may be found online at www.synnex.com.
Concentrix, a wholly owned subsidiary of SYNNEX Corporation (NYSE: SNX), is a leading business services company. We focus on customer engagement and improving business outcomes for over 450 global clients across many continents. Our 100,000+ staff deliver technology-infused, omni-channel customer experience management, marketing optimization, digital, consulting, analytics and back office solutions in 40+ languages from 125+ delivery centers. We serve automotive; banking and financial services; insurance; healthcare; technology; consumer electronics; media and communications; retail and e-commerce; travel and transportation; and energy and public sector clients. Visit www.concentrix.com or follow @Concentrix on Twitter.
Tigerspike is a global digital products company specializing in strategy, experience design, development and systems integration. We deliver business value, creating products that are differentiated by the experience, the technology and the data derived from both. Founded in 2003, Tigerspike now employs more than 300 people and has presence in New York, London, Singapore, San Francisco, Dubai, Melbourne, Wroclaw, and
Tokyo. To learn more about Tigerspike visit www.Tigerspike.com or follow @Tigerspike on Twitter.
Safe Harbor Statement
Statements in this news release which are not historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These statements, including statements regarding the expected timing of the transaction and the impact of the transaction on Concentrix' and SYNNEX' business and operations, staffing, Concentrix' stated strategy, and expectations that the transaction will enhance Concentrix' digital competencies and drive further differentiation and growth in the market place, increase the acquired business' speed to market of Business Digital solutions, provide Concentrix new opportunities for
expansion, and allow Concentrix to leverage certain aspects of the acquired business, are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks relating to Concentrix' ability to successfully and timely close the acquisition, the impact of the acquisition on Concentrix' and SYNNEX' operations and financial performance, Concentrix' ability to compete effectively, and other risks and uncertainties which apply to SYNNEX Corporation, which are detailed in our Form 10-K for the fiscal year ended November 30, 2016 and subsequent SEC filings. Statements included in this press release are based upon information known to SYNNEX
Corporation as of the date of this release, and SYNNEX Corporation assumes no obligation to update information contained in this press release.
Copyright 2017 Concentrix Corporation. All rights reserved. SYNNEX and CONCENTRIX are registered trademarks of SYNNEX Corporation, Reg. U.S. Pat. & Tm. Off., used under permission. All other names and marks are the property of their respective holders.
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SOURCE Concentrix Corporation