Convergys to buy Stream Global Services for Php36B

A momentary break from all the CES craze. Convergys Corporation and Stream Global Services, two of the country’s leading BPO companies, stated that they will enter a definitive merger agreement under which Convergys will pay its private equity owners a sum of USD820M to acquire Stream.

Through this acquisition, Convergys is looking to expand its reach by adding Stream’s client base which includes tech companies like Dell Inc., Hewlett-Packard, Microsoft and Western Digital.

convergys stream global services

The Cincinnati-based company is expecting a $0.35 increase in earnings-per-share in the first 12 months after inking the deal. Convergys is also looking at an estimated shared revenue exceeding USD3 billion once it’s all said and done.

The news the about definitive merger agreement between Convergys and Stream caused an upsurge on the former’s shares by almost 20% and closed at USD20.86 after the bell rang on Monday at the NYSE.

{Source}

Ronnie Bulaong

This article was written by Ronnie Bulaong, a special features contributor and correspondent for YugaTech. Follow him on Twitter @turonbulaong.

https://www.yugatech.com

12 Comments

nice dresses for says:

10 years ago

My experience with a Cuisinart bread maker was
certainly not in line with my hopes for the name. It all just boils
down on the preferences of the two. Plus, when you
buy wholesale, no one will know where you bought it from
unless you tell them.
- Reply
Hen-Sheen says:

11 years ago

I used to work for Convergys-G5 and Hinduja (which is in Eastwood!). When I’ve applied for a call center job in Northgate, there were 50 Floating agents on the same day! I’ve stopped applying cause it would be the same scenario all over again. For me, this industry is a Temporary Solution to my problems………
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Hacker says:

11 years ago

Bibilhin ni Anne Curtis ang Convergys. xD
- Reply
Yeohan says:

11 years ago

2009, binili ng Stream ang eTelecare..
2014, bbilhin ng Convergys ang Stream..
2019, meron kaya bbili sa Convergys or meron kya uli silang bbilhin n ibang company? Hehe
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Elijah says:

11 years ago

if you can’t beat them, buy them wahaha
- Reply
kaninglamig says:

11 years ago

Susmaryosep, unang basa ko STEAM.
- Reply
abuzalzal says:

11 years ago

Damn ConverJIZZ.
- Reply
HGSbulok says:

11 years ago

sana bilhin na rin ng cvg ang HGS …bulok ang management eh!
- Reply
felixbakat says:

11 years ago

we own you stream!boom!
- Reply

recca says:

11 years ago

kung magsalita kanaman parang may nishare ka na 1million sa pagbili. lol

pepe says:

11 years ago

maghanda na sa efficiency list.
- Reply
Fpellice Aurgie Laut says:

11 years ago

Good luck to us Stream Shaw
for better!!
- Reply