Commission Decision No. 31-M-027/2018:
Acquisition by SYNNEX Corporation of Shares in Convergys Corporation
The proposed transaction involves the acquisition by SYNNEX Corporation (SYNNEX) of 100% of Convergys Corporation’s (Convergys) outstanding voting shares for USD26.50 per share, in consideration of the payment by SYNNEX of cash in the amount of USD13.25 per share and 0.1193 SYNNEX common stock for each share of Convergys common stock, pursuant to an Agreement and Plan of Merger dated 28 June 2018.
SYNNEX provides business-to-business services that help customers and business partners grow and enhance their customer-engagement strategies. Headquartered in Fremont, California, USA, and with operations over 125 delivery centers in more than 30 countries in North and South America, Asia- Pacific and Europe. SYNNEX operates in two business segments: (1) Technology Solutions, which focuses on IT distribution; and (2) Concentrix, which provides customer care outsourced services.
Convergys provides customer experience outsourcing, focused on bringing value to its clients through every customer interaction. Convergys provides integrated agent, analytics and technology solutions with operational excellence for its clients on a global scale. Convergys has approximately 115,000 employees working in 33 countries, interacting with its clients’ customers in 58 languages.
Synnex’s entire client base is located outside the Philippines, and a vast majority of Convergys’ customers are located abroad as well.