Convergys Reveals its Plans with Stream Acquisition

Says this would create a global customer management services company with combined revenues of about $3 billion

Convergys has announced its future plans with the acquisition of Stream, a leading global BPO service provider with a workforce of over 40,000 employees spread across approximately 56 service centers in 22 countries, including India.

Hanumant Talwar, MD and Country Manager, Convergys (India and UK) stated that the acquisition of $820 million in cash of Stream Global Services by Cincinnati, Ohio-based Convergys would create a global customer management services company with combined revenues of about $3 billion.

The release said that once the transaction is complete, Convergys expects to have approximately 125,000 employees serving clients in 35 languages from over 135 contact centers in 25 countries.

Brian J. Delaney, COO, Convergys Corporation (former COO of Stream), said, “This acquisition combines two financially and operationally strong companies, with similar structures, enabling a smooth integration.”

This entity will have a skilled multilingual workforce of over 40,000 employees (including 900 in Mumbai, India) capable of supporting over 47 languages increasing from 35 with a presence in 31 countries with more than 150 centers.

Delaney further added that through this integration, Stream’s customers will benefit from Convergys’ scale, as well as capabilities such as analytics and home agent.
Talwar added, “Convergys now has 7 location (now 8 including Stream’s office in Mumbai) and the addition of Stream’s employee base increases Convergys’ headcount from 12,000+ to 13,000+ in India. This will also help expand Convergys’ client base beyond its existing portfolio, servicing clients from BFSI, Retail, Healthcare, Telecommunications, Technology and Cable industry.”

He also said, “Convergys would be making huge investments for ramping up existing locations of Gurgaon and Thane.”

The new, combined organization will continue to serve clients from North America, Europe, Middle East and Africa, Asia-Pacific and Australia.

The release further said that earlier in the year, in January, Convergys had announced acquisition of Stream Global Services in cash from funds managed by Ares Management and Providence Equity Partners, as well as from LiveIt, the BPO investment arm of Ayala Corp.

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