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January 07, 2014

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}

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12 Responses to “Convergys to buy Stream Global Services for Php36B”

  1. Good luck to us Stream Shaw
    for better!!

  2. pepe says:

    maghanda na sa efficiency list.

  3. felixbakat says:

    we own you stream!boom!

  4. HGSbulok says:

    sana bilhin na rin ng cvg ang HGS …bulok ang management eh!

  5. abuzalzal says:

    Damn ConverJIZZ.

  6. kaninglamig says:

    Susmaryosep, unang basa ko STEAM.

  7. Elijah says:

    if you can’t beat them, buy them wahaha

  8. Yeohan says:

    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

  9. Hacker says:

    Bibilhin ni Anne Curtis ang Convergys. xD

  10. Hen-Sheen says:

    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………

  11. 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.

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

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