Convergys beefs up capacity with Stream purchase
US-based Convergys Corp. expects to further cement its leadership in the Philippines and overseas with its recent acquisition of Stream Global Services Inc. for $820 million.
The acquisition is seen to strengthen Convergys’ position as a leading player in the $55-billion outsourced customer management services industry as this will expand its geographic footprint and capabilities.
Convergys now has 125,000 employees working out of more than 150 locations in 31 countries. It will now include in its client portfolio companies involved in the technology, entertainment and communication industries, company officials said in a briefing yesterday.
Convergys president and CEO Andrea Ayers noted that in the Philippines, the acquisition of Stream would expand the company’s headcount to 55,000 and increase the number of contact centers and operating sites to 34 located in key areas across the country.
According to Ayers, the Philippines now accounts for 44 percent of its workforce, making the country the company’s primary source of labor globally. Convergys Philippines will now cater to an expanded client base across North America, Europe, Middle East and Africa, Asia Pacific, New Zealand and Australia. These clients are involved in various industries, including telecommunications, satellite, technology, retail, financial services, entertainment and media, systems integrators, cable, healthcare and automotive.
“There are new markets that we will serve as we’ve picked up additional European clients who are in businesses that are not part of our (portfolio before). We will be serving new geographies that will be supported (by our operations) in the Philippines. The Philippines will be like a microcosm of all the services we do,” Ayers said.
“We’re one of the few, if not the only BPO firm, that can provide any type of service… We will have further investments in capacities, facilities and people,” she said.
Ayers said that in the Philippines, the company was targeting to add 6,000 more employees this year as it would expand existing facilities and set up new sites. A new facility will be opened at the UP Techno Hub in Quezon City while the one in Baguio will be expanded. Amy R. Remo
