PH now Convergys’ largest location after Stream acquisition

Rappler.com

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Convergys acquires Stream Global Services for $820 million, making the Philippines its largest operations site globally

CONVERGYS AND STREAM. The Philippines is now Convergys' largest operations center. Screen shot from Convergys Twitter.

MANILA, Philippines – Convergys Corporation announced it completed a new acquisition on Tuesday, March 4 that effectively makes the Philippines its biggest site of employment globally.

Andrea Ayers, president and CEO of Convergys, spoke in Manila to announce the completion of acquisition of US-based Stream Global Services Inc. for US$820 million.

Convergys is also planning to add another 6,000 employees to its existing roster, which currently comprises 35,000 Convergys employees and 20,000 Stream employees.

The current tally of 55,000 employees across 34 Convergys sites and 11 Stream sites is equivalent to around 44% of the company’s global workforce. Convergys’ next largest location is the United States.


Ayers also stated that Convergys would expand the number of seats and the number of sites it holds in the country within the year, though Ayers did not elaborate on the plan.

Ayers also responded to fears of facilities and layoffs following the acquisition, saying “Work stays, and sites stay.” She noted that there was very little duplication in work type and site locations following the integration, and the company expects $25 million in synergies from the acquisition.

“This lets us deliver quality services to clients at any location, in any language at scale,” she said. The acquisition allows Convergys to better penetrate European, Asian, and Latin American markets served by Stream, with the Philippine operations on both sides providing technical support to sales, health care, and back-office services.

The Stream acquisition will strengthen Convergys’ position in the outsourced customer management services industry, a $55-billion business. Convergys now has around 125,000 employees in 150 sites across 31 countries, speaking 47 languages. Stream’s complementary client portfolio will also diversify Convergys’ client base by adding new clients in technology, entertainment, and communications fields. – Rappler.com

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