Singapore & Greenwood Village, CO, USA, July 20, 2018 -- Aegis, a portfolio company of Capital Square Partners (CSP), and StarTek, Inc. (NYSE: SRT) (STARTEK), both providers of outsourcing and technology services, have announced that they have completed a business combination transaction between the companies to create a provider in customer experience management. Aegis and STARTEK had previously announced that they had entered into a definitive agreement on March 14, 2018 relating to a strategic transaction to create a combined business of meaningful scale.
Aparup Sengupta, Chairman of the Board of Directors of the combined business said, "This transaction is expected to be value accretive for the new company with access to world’s most rapidly growing markets, multi-lingual offerings, strong footprint and the institution of operational excellence capabilities and industry best practices. This integration will largely benefit our customers with enhanced capabilities, strong leadership, economies of scale and product innovation."
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The combined business will remain publicly listed on the NYSE under the name "StarTek, Inc." and the ticker symbol "SRT," and the headquarters will remain outside of Denver, CO.
STARTEK has also announced the addition of Lance Rosenzweig as the Global CEO of the combined business. This development is aimed at strengthening leadership culture to significantly diversify revenue base, driving innovation and expand into new growth markets, while enhancing margin and profitability.
Lance Rosenzweig, Global CEO, of the combined business said, "Our employees have been the core of our success and with this alignment, we are excited to integrate talent, experience, products and services in order to be able to transition into a global leader in the BPM space. We will continue to drive technology innovation and provide world-class support and value to our clients globally."
In connection with Mr. Rosenzweig’s appointment, the Company has entered into an employment agreement with Mr. Rosenzweig, which provides for the grant of an inducement equity award to Mr. Rosenzweig outside of the StarTek, Inc. 2008 Equity Incentive Plan, in accordance with NYSE Rule 303A.08. The agreement and grant have been approved by the Compensation Committee of the Company's Board of Directors, and the grant is an inducement material to Mr. Rosenzweig agreeing to enter into employment with the Company.
Posted by Veronica Silva Cusi, news correspondent
StarTek is the customer care expert in business process outsourcing. Our job is to improve and manage the customer experience for our clients. StarTek’s suite of solutions includes sales, order management and provisioning, customer care, technical support, receivables management, and more. We offer clients a variety of multi-channel customer interaction capabilities including voice, chat, email, IVR and back-office support. Headquartered in Denver, Colorado, StarTek has delivery centers onshore, near shore, offshore and virtually through its StarTek@Home workforce.
Published: Monday, July 23, 2018
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