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Information technology and communications company
IPVG Corp. (PSE: IPVG) and its BPO (Business Process Outsourcing)
subsidiary IP Contact Contact Center Outsourcing Inc. (IPCCO)
recently announced that it has acquired the assets of Globalstride
Corporation (GC) and Globalstride Holdings Ltd. (GHL), a premier
provider of outsourced call center solutions that primarily serves
inbound/outbound voice support for United States clients.
Under the Purchase Agreement, IPVG acquired the fixed assets and
material contracts of GC; as well as GHL's existing customer
accounts. The agreement also likewise gives IPVG/IPCCO the option to
retain and hire the employees of GC.
According to IPVG CEO Enrique Gonzalez, the company is currently
growing its BPO business both organically and through acquisitions.
"The Globalstride deal was an attractive acquisition target for
us since it ramps up our contact center business from 80 seats to a
total of 350 seats," Gonzalez shared. "This is just the
first of many significant acquisitions and developments for our BPO
business."
Meanwhile Eric Paragas, IPCCO president and COO, said that the
company is very excited in the Globalstride acquisition. "This
acquisition positions the company for a very rapid and sustained
organic growth."
Globalstride Holdings Ltd. is a US-based company engaged in the
business of providing customer relationship management services,
catering mostly to North American clients in the publishing,
catalogue and ICT industries. Its wholly-owned subsidiary,
Globalstride Corporation, was established in the Philippines in 2000
to likewise be a premier offshore customer relationship management
firm servicing clients through phone, e-mail and on-line Internet
chat.
Positive Collaboration
The agreement is priced approximately at USD $1 million. Gonzalez
said that Globalstride has a very competent group of managers and
operators that the management has decided to retain its personnel
and absorbing into its IPCCO operations. All customer contracts are
likewise transferred to IPCCO. "All Globalstride clients in
general were very pleased to hear of our involvement," he
added.
Paragas adds: "We believe the synergies we will gain with the
talented operations team at Globalstride and IPCCO management team
will create new value for our existing clients, customers and
partners as well as our future target market.
IPVG recently announced its second successive quarter of positive
income for the company that entered the IP-Communications space two
years ago through the acquisition of the Internet Data Center from
Reach. Unaudited consolidated revenues for the first half of 2007
grew 5x Year on Year (YOY) to PhP335M from PhP65.4M of the same
period last year.
IPVG has increased shareholder value by 5.3x over the last 12
months. From a market capitalization of approximately PhP1.0 billion
in July 2006, IPVG is currently a PhP5.5 billion company.
-- Tech Times Online
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