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IPVG Corp. told the Philippine Stock Exchange on Monday that its
wholly owned unit has bought US-based Interactive Teleservices Corp
(Influent) through cash and shares to be issued to the selling
shareholders.
In a disclosure, IPVG said IP Contact Center
Outsourcing Inc. (IPCCO) entered into a stock purchase agreement
with the current shareholders of Influent wherein 70 percent of the
US business process outsourcing (BPO) firm would be bought for $14
million. The transaction would be closed within 30 to 45 days from
signing the agreement.
The sellers would be paid through cash, which
will be sourced from debt and equity, and through the transfer of at
least 28 million shares. As partial payment, the shares would be
issued at P10 per share pending the approval of the Securities and
Exchange Commission.
Also stipulated under the agreement, IPCCO would
sell or lease an incremental capacity of 250 seats in the
Philippines to Influent on an as-needed basis.
“Our investment into Influent signifies our
commitment to building a global outsourcing provider. Influent’s
strong on-shore capability and North American presence, coupled with
IPVG’s delivery capabilities in Asia make us a truly global
provider,” said Enrique Gonzales, IPVG chief executive.
Influent was incorporated in December 1994 in
Nebraska as a company engaged in BPO and call center operations in
the US, Panama and the Philippines.
Among the services that Influent provides its
Fortune 1000 customers include inbound, outbound and BPO solutions.
According to IPVG, the newest acquisition maintains a positive cash
flow and long-term contracts. It is the fifth investment the company
has done within the last 12 months after buying Global Stride
Holdings Inc., IP-Converge Pte. Ltd., Prolexic Technologies Inc. and
Megamobile.
-- Likha C. Cuevas-Miel
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