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SYNNEX Corp Announces Acquisition Of International Business Machines Corp's $1.2+ Billion CRM BPO Business-DJ


Tuesday, 10 Sep 2013 04:05pm EDT 

Dow Jones reported that SYNNEX Corporation, in a separate press release issued jointly by SYNNEX and International Business Machines Corp (NYSE: IBM), announced that SYNNEX will acquire IBM's worldwide customer care services business. The acquisition will be combined with Concentrix, a wholly-owned subsidiary of SYNNEX. Pursuant to the asset purchase agreement, SYNNEX will pay a purchase price of $505 million, consisting of approximately $430 million in cash and $75 million in SYNNEX common stock. The transaction is expected to add an estimated $120 million in earnings before interest, taxes, depreciation and amortization (EBITDA) and approximately $0.55 in fully diluted earnings per share (EPS) excluding one-time charges and integration costs in the first 12 months post the closing of the transaction. The $405 million purchase price premium includes an estimated 40-50% in intangible assets which will be amortized over two to ten years. 

Company Quote

164.4
0.05 +0.03%
31 Oct 2014