Convergys

Convergys Corporation was a Cincinnati-based provider of customer management, business-process outsourcing, and information-management technology. Its services were designed primarily for large enterprises and service providers, with offerings spanning contact-center operations, agent-assisted customer care, self-service systems, interactive voice response, advanced speech recognition, convergent billing, revenue management, product and order management, and broader business-support systems. The company served communications, financial services, technology, retail, healthcare, government, telecommunications, utilities, cable, satellite, broadband, and other sectors. The company emerged from businesses associated with Cincinnati Bell. Its principal roots included Cincinnati Bell Information Systems, MATRIXX, and AT&T Solutions Customer Care, formerly known as AT&T American Transtech. Cincinnati Bell acquired the AT&T customer-care business in 1998, and Convergys became an independent public company following an initial public offering in August of that year. This origin gave the company a combination of telecommunications expertise, customer-service operations, and enterprise software capabilities. During the 2000s, Convergys expanded through acquisitions and international delivery operations. It purchased the iBasis Speech Solutions business in 2002 to strengthen interactive voice response and speech-recognition capabilities. In 2003 it opened call centers in the Philippines, complementing its expansion into India and establishing the Philippines as one of its major international operating locations. The company later acquired DigitalThink, adding capabilities related to learning and human-resources outsourcing, and bought Finali to improve customer-support and sales-support services for electronic-commerce businesses. Its 2008 acquisition of Intervoice further expanded its telecommunications and voice-automation portfolio. Convergys subsequently reshaped its business by divesting selected operations. It sold its human-resources management line to NorthgateArinso in 2010 and agreed in 2012 to sell its Information Management Business to NEC. The company continued concentrating on customer experience, contact-center operations, and outsourced business services. It acquired call-center operations in Kuala Lumpur and Manila from Datacom in 2013 and acquired Stream Global Services in 2014. The Stream transaction significantly increased Convergys's scale, bringing its workforce to approximately 125,000 employees, with a network of about 150 centers in 31 countries supporting dozens of languages. Convergys continued international expansion with the acquisition of the buw Holding group in 2016. At its largest reported scale, the company had approximately 130,000 employees across 33 countries. Its business model combined technology-enabled customer care with outsourced personnel and delivery-center capacity, allowing enterprise clients to transfer or augment customer-service, technical-support, sales-support, billing, and related administrative functions. In June 2018, SYNNEX Corporation announced an agreement to acquire Convergys in a transaction valued at approximately $2.43 billion in cash and stock. The transaction was completed on October 5, 2018, and Convergys was integrated with SYNNEX's Concentrix business. As a result, Convergys ceased operating as an independent public company and its brand and operations became part of the expanded Concentrix organization.

Convergys developed from several Cincinnati Bell businesses and became an independent corporation in the late 1990s. Its corporate foundations included Cincinnati Bell Information Systems, MATRIXX, and the customer-care operations formerly associated with AT&T American Transtech. Cincinnati Bell acquired the AT&T Solutions Customer Care business in 1998, and Convergys completed an initial public offering in August of that year. The new company combined outsourced customer operations with enterprise software and information-management products. Its early growth strategy relied on both acquisitions and geographic expansion. In 2002, Convergys purchased the iBasis Speech Solutions line of business, formerly known as Price Interactive, for approximately $17 million. The deal was intended to strengthen interactive voice response and advanced speech-recognition capabilities. In 2003, the company opened two call centers in the Philippines and developed a broader international delivery model that also emphasized India. The Philippines later became one of Convergys's most important operating locations. In 2004, Convergys acquired DigitalThink for approximately $120 million. DigitalThink supported the company's expansion into human-resources outsourcing and related learning services. Later that year, Convergys acquired Finali, a Westminster, Colorado company providing integrated customer-support and sales-support management for electronic-commerce sites, for approximately $25 million in cash. In 2008, it purchased Dallas-based Intervoice for approximately $335 million, adding telecommunications and automated voice capabilities. The company changed its portfolio during the following decade. In March 2010, it sold its Human Resources Management business to NorthgateArinso. In March 2012, NEC announced that it would acquire Convergys's Information Management Business for approximately $449 million. These divestitures reflected a stronger emphasis on customer care, contact-center services, and related outsourced operations rather than a broad collection of enterprise software businesses. Convergys continued expanding its delivery network. In April 2013, it completed the purchase of Datacom call-center operations in Kuala Lumpur and Manila for approximately $20 million. It then acquired Stream Global Services in 2014, a transaction that created one of the largest providers in the business-process outsourcing sector. The combination increased Convergys's workforce to approximately 125,000 people and gave it roughly 150 centers in 31 countries supporting 47 languages. The later acquisition of the buw Holding group in 2016 extended this international customer-management platform. At its reported peak, Convergys employed approximately 130,000 people across 33 countries. Its activities included contact-center delivery, customer care, technical support, sales support, self-service, speech automation, billing, revenue management, order management, and customer-care systems. Its customers were concentrated in industries with large service populations and complex support requirements, including communications, financial services, technology, retail, healthcare, government, utilities, cable, satellite, and broadband. Convergys's independent corporate history ended in 2018. On June 28, SYNNEX and Convergys announced a definitive agreement under which SYNNEX would acquire Convergys for approximately $2.43 billion in cash and stock. The transaction closed on October 5, 2018, and Convergys was combined with SYNNEX's Concentrix business. The Convergys brand therefore became part of the larger Concentrix organization rather than continuing as a standalone listed company.

• 2018

  Acquisition by SYNNEX completed

  [1]Convergysen.wikipedia.org

  SYNNEX completed its acquisition of Convergys and integrated the company with Concentrix.

• 2016

  buw Holding acquisition

  [1]Convergysen.wikipedia.org

  Convergys acquired the buw Holding group as part of its ongoing international expansion.

• 2014

  Stream Global Services acquisition

  [1]Convergysen.wikipedia.org

  Convergys acquired Stream Global Services, greatly increasing its global scale, workforce, center network, and language coverage.

• 2013

  Datacom operations acquired

  [1]Convergysen.wikipedia.org

  Convergys completed the acquisition of Datacom call-center operations in Kuala Lumpur and Manila.

• 2012

  Information Management Business sale announced

  [1]Convergysen.wikipedia.org

  NEC announced an agreement to acquire Convergys's Information Management Business for approximately $449 million.

• 2010

  Human Resources Management business divested

  [1]Convergysen.wikipedia.org

  Convergys sold its Human Resources Management line of business to NorthgateArinso.

• 2008

  Intervoice acquisition

  [1]Convergysen.wikipedia.org

  The acquisition of Intervoice expanded Convergys's telecommunications, voice-automation, and customer-interaction technology capabilities.

• 2004

  DigitalThink and Finali acquisitions

  [1]Convergysen.wikipedia.org

  Convergys acquired DigitalThink and Finali, expanding respectively into human-resources outsourcing and integrated support for electronic-commerce businesses.

• 2003

  Philippines call-center expansion

  [1]Convergysen.wikipedia.org

  The company opened two call centers in the Philippines, helping establish the country as a major part of its international delivery network.

• 2002

  iBasis Speech Solutions acquisition

  [1]Convergysen.wikipedia.org

  Convergys acquired the iBasis Speech Solutions line of business to enhance interactive voice response and advanced speech-recognition offerings.

• 1998

  Convergys becomes an independent public company

  [1]Convergysen.wikipedia.org

  Convergys grew from Cincinnati Bell-related businesses and completed an initial public offering in August, establishing itself as an independent corporation.

A global business-process outsourcing and customer-experience technology provider serving large enterprises and communications service providers through contact-center operations, automation, billing, and business-support systems.

• Business-process outsourcing

  Customer management services

  Convergys provided outsourced customer-management operations for large organizations. These services included agent-assisted care, technical support, sales support, self-service, and other interactions across communications, financial services, technology, retail, healthcare, government, and related industries. Delivery was supported by international contact centers and multilingual staff.

• Customer-interaction technology

  Interactive voice response and speech recognition

  The company supplied automated voice and speech technologies intended to let customers obtain information or complete service interactions without a live agent. The acquisition of iBasis Speech Solutions and Intervoice strengthened Convergys's capabilities in interactive voice response, advanced speech recognition, and telecommunications-oriented automation.

• Enterprise software

  Information management and business-support systems

  Convergys's information-management portfolio included convergent billing, revenue management, product and order management, and customer-care management. These systems and services were aimed particularly at telecommunications, utility, cable, satellite, and broadband providers with complex product catalogs and recurring-service relationships.

• 2018

  SYNNEX acquisition and Concentrix integrationM&A

  Background

  Convergys remained a large global customer-management and outsourcing provider but was operating in a consolidating services market.

  Action taken

  SYNNEX agreed to acquire Convergys for approximately $2.43 billion in combined cash and stock and combine it with Concentrix.

  Aftermath

  The transaction closed on October 5, 2018. Convergys ceased to operate as an independent public company and became part of Concentrix.

  Combined cash-and-stock transaction value. $2.43 billion (2018 acquisition announcement)

  Source

• 2014

  Stream Global Services acquisitionM&A

  Background

  Convergys sought greater international scale in customer-management and business-process outsourcing.

  Action taken

  The company acquired Stream Global Services in a transaction with an enterprise value of approximately $820 million.

  Aftermath

  The combination made Convergys one of the largest providers in its sector and increased its reported workforce to approximately 125,000 employees.

  Enterprise value. $820 million (2014 transaction)

  Source

• 2012

  Sale of the Information Management Business to NECM&A

  Background

  Convergys operated an information-management business serving telecommunications and other networked service providers.

  Action taken

  Convergys agreed to sell the business to NEC for approximately $449 million.

  Aftermath

  The transaction further focused Convergys on customer care, contact-center operations, and business-process outsourcing.

  Announced transaction value. $449 million (2012 announcement)

  Source

• 2010

  Human-resources business divestitureStrategy

  Background

  Convergys had expanded beyond customer care into human-resources management and related outsourcing.

  Action taken

  The company sold its Human Resources Management line of business to NorthgateArinso.

  Aftermath

  The divestiture narrowed the portfolio and supported a greater concentration on customer-management and related technology services.

  Source

1. 1Convergysen.wikipedia.org