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5 Keys To Synnex's Acquisition of Convergys
The Birth Of A New Business Process Outsourcing Behemoth
Synnex's $2.8 billion acquisition of call center operations leader Convergys represents a bold move by the distributor to dominate the BPO Market.
The deal brings Synnex an additional $2.7 billion in BPO sales, a global BPO footprint with 12 new countries, 6,000 services professionals and new customers in key vertical markets. Once the deal is completed, Synnex will have a global BPO footprint of 40 countries servicing clients in 70 different languages.
"With Convergys, Concentrix will have the geographic scale and expertise to fulfill all aspects of customer experience service needs, especially in high-value engagements," said Synnex CEO Dennis Polk said. "Equally impressive will be the combined customer list of the two organizations expanding a multitude of the Fortune 1000 today to the disruptors we'll see on this list in future years. We see many opportunities to sell deeper into the joint customer base."
The deal, which will be accretive after the first year, is expected to generate cost savings of up to $150 million over three years thanks to delivery center alignment, rationalization, third-party spending, increased leverage from its global infrastructure.