Pursuant to the asset purchase agreement, SYNNEX will pay a purchase
As client requirements for BPO have shifted towards high value business outcomes, insights, and alternative delivery models, this transaction accelerates Concentrix' geographic and industry reach with combined deep expertise, scale, process innovation and continued investments in high value industry platforms.
"This acquisition will make Concentrix a global Top 10 player in a
growing market," stated
"The new CRM BPO business will leverage the combined deep expertise,
scale, process innovation and investments in high value industry
platforms and assets to provide the customer experience and service
innovation you have come to expect from IBM," said
"I am thrilled with the talent that will be coming over to Concentrix,"
SYNNEX will enter into a multi-year agreement with IBM in which Concentrix will become an IBM preferred business partner for global customer care BPO outsourcing services, providing an extended ecosystem and delivery engine for Concentrix' and IBM's extended partners and solution providers.
Once the transaction is complete, Concentrix will have approximately 45,000 employees servicing over 300 clients in over 40 languages through over 50 delivery centers on six continents.
The transaction is expected to initially close in the coming months, subject to the satisfaction of regulatory requirements and customary closing conditions.
Until the transaction is completed, the companies will continue to operate independently.
Additionally, subject to SYNNEX' completion of its normal quarterly
close and reporting process, revenues for the third quarter ended August
31st are now estimated toward the high end of the prior
guidance range of
Analyst/Investor Conference Call
An analyst/investor conference call will be held to discuss the
The conference call will be webcast at http://ir.synnex.com
and will be available via telephone by dialing (888) 469-3219 in
A live webcast and replay of the investor call will be available to the general public at http://ir.synnex.com. The replay of the webcast will be available at http://ir.synnex.com approximately one hour after the conference call has concluded.
Safe Harbor Statement
Except for the historical information contained herein, the matters set
forth in this press release, including the anticipated benefits for
SYNNEX of the acquisition of IBM's worldwide customer care services
business, including future financial and operating results, value to
SYNNEX' customers and stockholders, SYNNEX' plans, objectives,
expectations and intentions and the timing of the closing, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties that could cause actual results to
differ materially, including, but not limited to, the risk that the
transaction will not close as anticipated or at all, difficulties in the
integration of acquired businesses, the risk that the benefits from the
transaction may not be fully realized or may take longer to realize than
expected, or that the transaction will not be accretive to SYNNEX'
operating results, disruption from the transaction making it more
difficult to maintain relationships with customers or employees, and
competition, third-party relationships and revenues, and the risks
detailed in SYNNEX' Annual Report on Form 10-K for the year ended
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