News : SYNNEX Corporation Completes Initial Close of IBM CRM Acquisition
Fremont, Calif., Feb 3, 2014-- SYNNEX Corporation (NYSE: SNX), a business process services company, announces the completion of the initial close of the acquisition of IBM’s customer relationship management (CRM) business on January 31, 2014. IBM’s CRM business will be combined with Concentrix, a wholly-owned subsidiary of SYNNEX.
The Company also announced that Christopher Caldwell has been promoted to Executive Vice-President and President of Concentrix Corporation, and will lead the combined organization.
"This transformational acquisition makes Concentrix a global Top 10 player in a growing market," stated Kevin Murai, President and CEO of SYNNEX Corporation. "Our collective strengths in the CRM BPO market including a strong team of executives and recurring revenues from IBM’s blue-chip client base have created a truly compelling value proposition for our shareholders."
"We are excited about the client base coming over from IBM. After the initial integration and planned expiration of certain lower margin contracts, we expect to grow revenue and earnings for the combined business," stated Kevin Murai, President and CEO of SYNNEX Corporation. "We have long been committed to delivering high quality, innovative services and this acquisition will significantly extend our portfolio and our delivery capabilities."
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Broken Promises
More Editorial From Synnex Corporation
About Synnex Corporation:
Synnex Corporation, a Fortune 500 company founded in 1980 by Robert T. Huang based in Fremont, California, is an information technology supply chain services company offering services to original equipment manufacturers, software publishers and reseller customers. The president and CEO, as of November 2008, was Kevin M. Murai.
With more than 30 years voice research and more than 150 voice patents, IBM is key industry player providing access to data through end-to-end voice integrated solutions. IBM also makes chips for a wide range of devices from the world’’s most powerful computers to the smallest cell phones.
Published: Wednesday, February 5, 2014