SYNNEX Corporation Announces Acquisition of Worldwide Tech Support, Customer Service and Telesales Divisions of e4e Inc
e4e provides healthcare billing services that improves your cash flow through quicker claim submission and shorter receivables time allowing you to focus on patient care.
- (1888PressRelease) May 05, 2012 - Concentrix Corporation, SYNNEX Corporation's (NYSE: SNX) Business Process Outsourcing (BPO) segment, today announced it has signed a definitive agreement to acquire the worldwide Tech Support, Customer Service and Telesales divisions of e4e Inc., a privately-held BPO company. E4e will continue to focus on its Healthcare and Interactive Entertainment Service divisions.
"We are continuing our focus on growing the BPO mix of our business through strategic investments like the acquisition of the support divisions of e4e," stated Kevin Murai, President and Chief Executive Officer of SYNNEX Corporation. "We anticipate strengthening existing client relationships and growing new ones through our enhanced customer lifecycle suite of services, including our recently purchased renewals platforms."
"This acquisition will strengthen our customer portfolio by adding a number of Fortune 500 clients. In addition, this acquisition enables greater cross-sell opportunities for our existing customers and we now have a solid delivery organization in the high-growth domestic Indian BPO market," stated Chris Caldwell, Senior Vice President and General Manager, Global Business Services. "With the acquisition of these divisions of e4e, Concentrix will have over 6,000 employees around the world, operating in nine countries and delivering support in over 20 languages."
"Over the last decade, e4e has built an enviable list of customers and best-in-class employees. We are confident that Concentrix is the right partner with the necessary scale to acquire our support divisions and make investments to help our staff and customers grow," said Bhaskar Menon, e4e Chief Executive Officer and President.
e4e's support divisions have annual revenues of approximately $30 million and the divisions employ about 1,700 employees in Bangalore and Chennai, India; Glasgow, Scotland; Hunt Valley, Maryland and Phoenix, Arizona. The closing of the acquisition, which is subject to customary closing conditions, is expected to occur by the end of December, 2010 and acquisition integration charges will be incurred in the first and second quarters of SYNNEX fiscal 2011.
About e4e
E4e is an IT Enabled Services and Business Process Outsourcing Company. E4e has proven experience in delivering business value through cost reduction, process re-engineering and most importantly through enhancement of revenues in the customer's existing and new markets. e4e's scalable technology-driven services cover four broad market opportunities and segments. They are (1) Managed Services, (2) Interactive Entertainment Services, (3) Healthcare Business Services and (4) India Business Services. All these services are enabled through e4e's business-specific domain experience, globally distributed state-of-the-art service delivery centers and over 3000 experienced service delivery professionals. For more information, visit: www.e4e.com
About Concentrix Corporation
Concentrix Corporation is the global business process outsourcing division of SYNNEX Corporation with award-winning expertise in providing our clients with platforms and services to support the customer lifecycle. From locations in the Philippines, China, Costa Rica, Nicaragua, the United States, United Kingdom and Japan, our more than 6,000 employees support millions of transactions in multiple languages and countries worldwide. Concentrix Corporation is a wholly-owned subsidiary of SYNNEX Corporation (NYSE: SNX), a Fortune 500 company. For more information, please visit www.concentrix.com.
Safe Harbor Statement
Statements in this press release regarding SYNNEX Corporation or Concentrix Corporation, which are not historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by terms such as believe, expect, may, will, provide, could and should and the negative of these terms or other similar expressions.
These statements, including statements regarding the strengthening of client relationships and growth of new clients, strengthening of our customer portfolio, expectations of greater cross-selling opportunities, number of employees, countries of operation, and support languages, the timing of the closing of the acquisition and acquisition integration related charges, and the benefits of these acquisitions, are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements.
These risks and uncertainties include, but are not limited to: the successful transition of these divisions of e4e; loss of e4e's vendors and customers; general economic conditions and any weakness in IT and consumer electronics spending; the loss or consolidation of one or more of our significant OEM suppliers or customers; market acceptance of our services; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our customers; our ability to gain market share; changes in our costs and operating expenses; changes in foreign currency exchange rates; changes in the tax laws; risks associated with our international operations; credit exposure to our reseller customers; and negative trends in their businesses; and other risks and uncertainties detailed in our Form 10-Q for the fiscal quarter ended August 31, 2010 and from time to time in SYNNEX Corporation's SEC filings. Statements included in this press release are based upon information known to SYNNEX Corporation and Concentrix Corporation as of the date of this release, and SYNNEX Corporation and Concentrix Corporation assume no obligation to update information contained in this press release.
Copyright 2010 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX Logo, Concentrix, the Concentrix Logo and all other SYNNEX company, product and services names and slogans are trademarks or registered trademarks of SYNNEX Corporation. SYNNEX and the SYNNEX Logo Reg. U.S. Pat. & Tm. Off. Other names and marks are the property of their respective owners
Contact Info:
Name: Venu Nambiar
Vice President, Marketing
e4e Inc.
+91 80 6618 3300/01
venu.nambiar ( @ ) e4e dot com
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