• Convergys completes Stream acquisition

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    Convergys Corp., one of the global leaders in customer management, has completed its acquisition of Stream Global Services Inc. for $820 million.

    The acquisition is expected to make Convergys a customer services management giant with annual revenues of $3 billion.

    Converys now has Stream’s 56 service centers and 39,000 employees located in 22 different countries. These include Stream Philippines’ 11 operating centers in Pampanga, Manila and Cebu.

    “The addition of Stream Philippines into our operations results in Convergys spreading to a total of 34 operating sites across the nation from Baguio all the way to Davao,” Ivic Mueco, Convergys country manager for the Philippines, said in a press conference held on Tuesday.

    “The new, combined organization in the Philippines will continue to serve clients from North America, Europe, Middle East and Africa, Asia Pacific, New Zealand and Australia in the following industries: telecommunications, satellite, technology, retail, financial services, entertainment and media, systems integrators, cable, healthcare, and automotive,” she added.

    Mueco acknowledged that one of the best aspects of Convergys’ acquisition of Stream is potential long-term growth.

    The addition of Stream will strengthen Convergys’ position as the leading US provider in the $55-billion outsourced customer management services industry.

    Stream’s complementary client portfolio will also diversify Convergys’ client base through the addition of leading technology, entertainment, and communications clients.

    “We believe our shared focus on exceptional client service, operational expertise, and world-class talents in the Philippines will enable us to quickly integrate and leverage our expanded reach for the benefit of clients, employees, and shareholders,” said Andrea Ayers, president and chief executive officer of Convergys.

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