Ayala BPO unit acquires UK company

MANILA, Philippines – An investment unit of the Philippines’ oldest conglomerate announced the purchase of a United Kingdom-based business process outsourcing (BPO) firm.

LiveIt, Ayala Corp.’s BPO investment arm, said in a statement Monday, April 22, that its unit Stream Global Services Inc. has completed the acquisition of UK-based LBM Holdings Limited. It did not disclose financial details of the deal.

LBM will be Stream’s platform to better penetrate the UK market, the world’s second largest English language market, Ayala said in the statement.

LBM is also seen to contribute in expanding Stream’s clientele since the UK-based firm has a portfolio that includes telecommunications, financial services, utilities, automotive and retail players.

“This transaction is about delivering greater value to our clients and long-term growth for our company,” said Stream Chairman and CEO Kathy Marinello.

“LBM’s people, expertise and capabilities, combined with Stream’s financial strength, global presence, and sales and service offerings, will establish a broader portfolio of
high-value service offerings for our clients,” she added.

Stream is involved in customer relationship management and employs over 39,000 employees supporting 35 languages across 56 service centers in 23 countries. It generated revenues of $860 million in 2012.

LBM, on the other hand, is a demand and lead generation solutions provider that employs about 2,500 people across 6 locations in the UK. It generates approximately £60 million in annual revenues. – Rappler.com