News : iQor Completes Sale of International Logistics and Product Service Assets
St. Petersburg, FL, USA, June 3, 2019 -- iQor, a managed services provider of customer engagement and technology-enabled BPO solutions, announced that it has completed the sale of its logistics and product service assets in Europe, Asia, South America, Canada and certain non-core assets in the United States. This transaction allows iQor to focus on its expanding end-to-end customer strategy which is a key component of supporting North American BPO customers.
Under the agreement, all logistics and product service operations in Europe, Asia, South America, Canada and certain non-core assets in the United States have been bought by an affiliate of Staple Street Capital, a middle-market private investment firm. The divested business will be renamed Ivy Technology and will be an independently operated business focused on growing its now standalone business. This transaction is in line with iQor’s integrated North American BPO platform strategy, which is inclusive of Logistics and Product services.
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"Today I am pleased to announce that we have strengthened our integrated North American BPO platform strategy through this transaction," said Gary Praznik, President and CEO of iQor. "Our North American Logistics and Product Services solution remains an integral part of our five pillars of end-to-end customer support. The transaction combines iQor’s award-winning customer support capabilities with select logistics and product services assets that complement the full customer life-cycle. This rationalization of services enables iQor to apply focus on areas of high growth with existing and future customers. Our tech-enabled BPO platform is unique as it is the only platform that provides the customer a complete end-to-end solution and remains a powerful value proposition for many of our clients, who increasingly use more than one of iQor’s services."
iQor’s North American BPO Business platform will retain strategic logistics and product service customers who partner with the company across its pillars of service including; Omni-channel, technical services, revenue generation, analytics-enabled retention and logistics and product services. The company will use its remaining logistics footprint to support consumers in the United States and Mexico, powered by innovative artificial intelligence and machine learning platforms.
Posted by Veronica Silva Cusi, news correspondent
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iQor is a global provider of business process outsourcing and product support services with 32,000 employees in 17 countries. We partner with many of the world’s best-known brands to deliver aftermarket product and customer support solutions that span the consumer value chain, from customer care and receivables management to product diagnostics and repair services. Our award-winning technology, logistics and analytics platforms enable us to measure, monitor and analyze brand interactions, improve business processes and find operational efficiencies that lead to superior outcomes for our partners across the customer and product lifecycles.
Published: Tuesday, June 4, 2019