News : Convergys to Acquire buw
Cincinnati, OH, USA, July 6, 2016 -- Convergys Corporation (NYSE: CVG), a global provider in customer management, announced a definitive agreement under which Convergys will acquire Germany-based buw. Convergys also announced the transaction is expected to be accretive to Convergys earnings, excluding one-time charges, intangible amortization and integration costs.
By adding buw’s geographic footprint, complementary client base, and German language capabilities, Convergys expects the acquisition to expand its presence in the growing German outsourced customer management services industry.
Convergys and buw expect to close the transaction during the third quarter of 2016, subject to the satisfaction of customary closing conditions, including applicable regulatory requirements.
Andrea Ayers, Convergys President and CEO said, "This accretive transaction will increase our capacity to serve the customer management BPO market in Germany, further diversify our marquee client base, and strengthen our relationships with the multinational clients we share. We believe buw clients will benefit from Convergys’ unique global platform for driving operational excellence, and look forward to helping our new clients maintain exceptional relationships with their customers. We are excited to welcome buw’s talented employees to our company as we continue to create value for our clients and shareholders."
Posted by Veronica Silva Cusi, news correspondent
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Convergys delivers consistent, quality customer experiences in 58 languages and from more than 150 locations around the globe. We partner with our clients to improve customer loyalty, reduce costs, and generate revenue through an extensive portfolio of capabilities, including customer care, analytics, tech support, collections, home agent, and end-to-end selling. We are committed to delighting our clients and their customers, delivering value to our shareholders, and creating opportunities for our talented, caring employees, 130,000-strong in 33 countries around the world.
About The buw Holding GmbH:
The buw Holding GmbH, an owner-run German company based in Osnabrück, is especially known for its call centres. buw has altogether about 4,000 employees who work in Osnabrück, Münster, Halle, Schwerin, Berlin, Leipzig, and Wismar. in Germany, Pécs in Hungary, and Timișoara and Cluj in Romania.
Published: Thursday, July 7, 2016