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Sitel Group Acquires Sykes Enterprises
At a time when remote work and virtual communications are increasingly common, the need for solutions that deliver optimal customer care are greater than ever. Smooth, quality interactions that allow customers to engage at any touch point and that are free from technical issues are key.
In an effort to expand its geographic footprint and strengthen its offerings, Sitel Group has acquired Sykes Enterprises.
The deal was first announced on June 17 and closed in an all-cash acquisition this week for $2.2 billion - a purchase price of $54 per share.
Sykes Enterprises is a provider of global customer experience management services, the company offers multi-channel demand generation and digital transformation offerings and is well known for helping global 2000 companies in financial services, tech, transportation, and healthcare industries.
Offerings range from digital services to sales, customer support, tech support and more - as well as robotic process automation and even AI solutions are offered for clients in the Americas and EMEA.
As part of the deal, SYKES is now a privately-held company and all of its shares will cease trading on the Nasdaq Stock Market. The newly merged company will encompass 155,000 employees located across 39 countries.
Sitel Group offers customer experience products and solutions to help brands build stronger relationships with their customers.
Together both companies will now have a greater depth of global CX solutions and services to offer the market.
Olivier Camino, Global Chief Operating Officer & Co-Founder of Sitel Group commented on the acquisition’s importance saying, “Post-pandemic, the forces of digital disruption and dynamism are accelerating. A new world is emerging with the rise of the work at home model, and the need for valuable emotional connections and conversations between brands and their consumers has never been so important. With our expanded geographic footprint and greater capacity to serve customers, we will be better equipped to help our customers navigate the rapid changes within the industry.”
“This acquisition is a fantastic opportunity for Sitel Group to enhance and accelerate our CX products and solutions within EXP+™, especially with the addition of SYKES’ CX solutions in digital, social media and robotic process automation (RPA), through their suite of digital transformation capabilities such as Clearlink and Symphony,” said Camino.
Edited by Luke Bellos