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Paris, France, Mar, 2023 - Webhelp and Concentrix Corporation (Nasdaq: CNXC) announced they have entered into exclusive negotiations to combine. This transaction will create a global customer experience provider, crystallizing the ambition of the two groups to play a major role in the CX industry and further accelerate their respective development. The complementary global presence will provide a homogeneous services offering to all international clients.

Chris Caldwell, President and CEO of Concentrix, will lead the combined organization. Olivier Duha, co-founder and CEO of Webhelp, will serve as Vice-Chairman of the board of directors, and will ensure the integration of the two groups alongside the CEO. The leadership team will consist of members of both the Concentrix and Webhelp leadership teams.

Through receiving cash and shares of Concentrix, Webhelp’s shareholders will become shareholders of the combined entity. GBL, represented by Nicolas Gheysens at Concentrix board of directors, and Frédéric Jousset, co- founder of Webhelp, have expressed their confidence in the full potential of the new group and become significant shareholders of the combined entity. The new entity will remain listed on NASDAQ.

Webhelp’s headquarters in Paris are expected to become the hub of the European activities of the new group.. The transaction will be presented to the employee work councils for information and consultation, and will be subject to the approval of the regulatory authorities. The transaction represents a significant development opportunity for employees and does not reveal any significant risk of redundancy.

Webhelp and Concentrix are highly committed to ambitious ESG programs and impact strategies that are fully integrated into their business models, as highlighted by the hundreds of awards for ESG and employee environment, well-being, diversity, and engagement earned over the recent years. Both companies will pool their resources to further expand this ESG reach.

Olivier Duha, Co-founder and CEO of Webhelp: "This combination constitutes a unique strategic opportunity for all of our teams and clients. Thanks to a remarkable complementarity, we will continue to offer our clients the most innovative technologies and solutions in terms of customer experience and related services. The combination with Concentrix is a new stage in the development of Webhelp and meets three objectives: create a global group and leader on all continents, acquire an unequalled capacity to invest, and attract talent and experts in new technologies including artificial intelligence and customer experience. This strategic step is giving birth to a new leader, and is made possible thanks to the remarkable work of our c.125,000 employees worldwide."

Ian Gallienne, CEO at Groupe Bruxelles Lambert ("GBL"), a majority stakeholder in Webhelp since 2019, said, "Following the remarkable development of Webhelp since our investment in 2019, GBL is looking forward to being part of the continued success and growth story that lies ahead. The combined entity will be a leading and transformative force in the marketplace, positioned to create substantial value for all stakeholders."

Frédéric Jousset, Co-founder of Webhelp: "I’m very happy with this new step for Webhelp."

Chris Caldwell, President and CEO of Concentrix: "We are honored and excited to join forces with Webhelp, a recognized and game-changing leader in Europe, Latin America, and Africa. As we embark on this exciting new journey together, our shared culture, values, and fanatical focus on people and the success of our valued clients will greatly enhance the value we deliver to our clients around the world, and fast track further growth and revenue diversification. With our combined strengths, we will be uniquely positioned to redefine the industry and design, build and run the future of CX."

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Posted by Veronica Silva Cusi, news correspondent
Source: https://webhelp.com

Date Posted: Friday, March 31, 2023