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International Business Machines Corp and SYNNEX Corp Announce Strategic Partnership in Customer Care Market


Tuesday, 10 Sep 2013 04:00pm EDT 

International Business Machines Corp and SYNNEX Corp announced a definitive agreement in which SYNNEX will acquire IBM's worldwide customer care business process outsourcing services business for $505 million, consisting of approximately $430 million in cash and $75 million in stock. The acquisition will be branded and fully integrated with Concentrix, a wholly owned subsidiary of SYNNEX. As part of the transaction, SYNNEX will enter into a multi-year agreement with IBM, and Concentrix will become an IBM strategic business partner for global customer care business process outsourcing services. The transaction is expected to initially close in the coming months, subject to the satisfaction of regulatory requirements and customary closing conditions. Until the transaction is completed, the companies will continue to operate independently. 

Company Quote

162.07
-0.11 -0.07%
24 Oct 2014