Jump to content

Convergys: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
Tags: Mobile edit Mobile web edit
GreenC bot (talk | contribs)
Bots
2,516,567 edits
 
(33 intermediate revisions by 23 users not shown)
Line 1: Line 1:
{{Short description|American call center software company}}
{{Infobox company
{{Infobox company
| name = Convergys Corporation
| name = Convergys Corporation
| logo = Convergys logo.svg
| logo = Convergys logo.svg
| image = File:Convergys Baguio.JPG
| image = File:Convergys Baguio.JPG
| image_caption = Convergys office in [[Baguio City]], [[Philippines]]
| image_caption = Convergys office in [[Baguio]], [[Philippines]]
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{NYSE was|CVG}}
| traded_as = {{NYSE was|CVG}}
Line 10: Line 11:
| location_country = [[United States]]
| location_country = [[United States]]
| locations = 150<ref name="Annual-Report"/>
| locations = 150<ref name="Annual-Report"/>
| fate = Acquired by [[SYNNEX Corporation]]
| fate = Acquired by [[Synnex]]
| defunct = {{End date|2018|10|05}}
| defunct = {{End date|2018|10|05}}
| successor = [[Concentrix]]
| successor = [[Concentrix]]
Line 19: Line 20:
| products = Infinys Rating and Billing (IRB), Dynamic Decisioning Solution (DDS), ICOMS, Customer Management, Solutions etc.
| products = Infinys Rating and Billing (IRB), Dynamic Decisioning Solution (DDS), ICOMS, Customer Management, Solutions etc.
| services =
| services =
| revenue = {{increase}} [[United States Dollar|$]] 2.951 billion <ref name="Annual-Report">{{cite web|url=http://files.shareholder.com/downloads/CVG/1699815799x0x879498/AF43DF8C-AFB4-4600-A4FD-C1686946CA15/Convergys_2015_Annual_Report-FINAL.pdf |title= 2015 Annual Report |publisher=Convergys | date = Feb 23, 2016 | accessdate =May 2, 2016}}</ref>
| revenue = {{increase}} [[United States Dollar|$]] 2.951 billion <ref name="Annual-Report">{{cite web |url=http://files.shareholder.com/downloads/CVG/1699815799x0x879498/AF43DF8C-AFB4-4600-A4FD-C1686946CA15/Convergys_2015_Annual_Report-FINAL.pdf |title=2015 Annual Report |publisher=Convergys |date=Feb 23, 2016 |access-date=May 2, 2016 |archive-date=May 31, 2016 |archive-url=https://web.archive.org/web/20160531180429/http://files.shareholder.com/downloads/CVG/1699815799x0x879498/AF43DF8C-AFB4-4600-A4FD-C1686946CA15/Convergys_2015_Annual_Report-FINAL.pdf |url-status=dead }}</ref>
| revenue_year = 2015
| revenue_year = 2015
| operating_income = {{increase}} [[United States Dollar|$]] 194.4 million<ref name="Annual-Report"/>
| operating_income = {{increase}} [[United States Dollar|$]] 194.4 million<ref name="Annual-Report"/>
Line 34: Line 35:
| footnotes =
| footnotes =
}}
}}
'''Convergys Corporation''' is a corporation based in [[Cincinnati, Ohio]], that sells [[customer management]] and information management products, primarily to large corporations. Customer management products include agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provides convergent billing and business support system (BSS) products and services including [[revenue management]], product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They have approximately 130,000 employees across 33 countries.
'''Convergys Corporation''' was a corporation based in [[Cincinnati, Ohio]], that sold [[customer management]] and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provided convergent billing and business support system (BSS) products and services including [[revenue management]], product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They had approximately 130,000 employees across 33 countries.


== History ==
== History ==
[[File:Convergys, Gurgaon, India.jpg|thumb|left|One of the Convergys offices in [[Gurgaon]], India]]
[[File:Convergys, Gurgaon, India.jpg|thumb|left|One of the Convergys offices in [[Gurgaon]], India]]
The company grew from [[Cincinnati Bell]] Information Systems and MATRIXX, both [[subsidiary|subsidiaries]] of Cincinnati Bell, and AT&T Solutions Customer Care (formerly [[AT&T American Transtech]]), which was sold to Cincinnati Bell in 1998;<ref>{{ cite newspaper | newspaper = Orlando Sentinel | first = Blake | last = Fontenay | title = CBIS, Matrixx Team to Form New Company | url = http://articles.orlandosentinel.com/1998-04-28/business/9804270621_1_matrixx-convergys-cincinnati-bell | date = Apr 28, 1998 | accessdate = May 2, 2016 }}</ref> an [[Initial public offering|IPO]] in August 1998 made it a fully independent company.<ref name="IPO">{{cite web | publisher = MarketWatch | url = http://www.marketwatch.com/story/ipo-daily-report-citysearch-to-merge-with-ticketmaster-online-8-13-98 | title = IPO Daily Report: CitySearch to merge with Ticketmaster Online | date = Aug 13, 1998 | accessdate = May 2, 2016 }}</ref> Since then, Convergys' headquarters in [[Cincinnati, Ohio]], has [[takeover|acquired]] numerous companies.
The company grew from [[Cincinnati Bell]] Information Systems and MATRIXX, both [[subsidiary|subsidiaries]] of Cincinnati Bell, and AT&T Solutions Customer Care (formerly [[AT&T American Transtech]]), which was sold to Cincinnati Bell in 1998;<ref>{{ cite news | newspaper = Orlando Sentinel | first = Blake | last = Fontenay | title = CBIS, Matrixx Team to Form New Company | url = https://www.orlandosentinel.com/1998/04/28/cbis-matrixx-team-to-form-new-company/ | date = Apr 28, 1998 | access-date = May 2, 2016 }}</ref> an [[Initial public offering|IPO]] in August 1998 made it a fully independent company.<ref name="IPO">{{cite web | publisher = MarketWatch | url = http://www.marketwatch.com/story/ipo-daily-report-citysearch-to-merge-with-ticketmaster-online-8-13-98 | title = IPO Daily Report: CitySearch to merge with Ticketmaster Online | date = Aug 13, 1998 | access-date = May 2, 2016 }}</ref> Since then, Convergys' headquarters in [[Cincinnati, Ohio]], has [[takeover|acquired]] numerous companies.


On July 1, 2002, Convergys announced<ref>{{Cite web|url=http://www.speechtechmag.com/Articles/News/Speech-Technology-Digest/Convergys-Buys-Speech-Recognition-Division-of-iBasis-33317.aspx|title=Convergys Buys Speech Recognition Division of iBasis|website=www.speechtechmag.com|access-date=2018-07-20}}</ref> the purchase of the iBasis Speech Solutions line of business (formerly Price Interactive) from iBasis Inc. for $17 million in order to enhance its Interactive Voice Response (IVR) and Advanced Speech Recognition (ASR) solutions.
On July 1, 2002, Convergys announced<ref>{{Cite web|url=http://www.speechtechmag.com/Articles/News/Speech-Technology-Digest/Convergys-Buys-Speech-Recognition-Division-of-iBasis-33317.aspx|title=Convergys Buys Speech Recognition Division of iBasis|website=www.speechtechmag.com|date=July 2002 |access-date=2018-07-20}}</ref> the purchase of the iBasis Speech Solutions line of business (formerly Price Interactive) from iBasis Inc. for $17 million in order to enhance its Interactive Voice Response (IVR) and Advanced Speech Recognition (ASR) solutions.


Iт 2003, Convergys opened two call centres in the [[Philippines]]. The Philippines, along with [[India]], was chosen by then president of the company, Jack Freker, for the company’s global expansion.<ref>{{Cite web|title = A history of the BPO industry in numbers|url = http://www.rappler.com/brandrap/stories/98207-bpo-philippines-timeline|website = Rappler| date=July 2, 2015 |access-date = November 10, 2015}}</ref>
In 2004, Convergys bought [[DigitalThink]] for $120 million.<ref>{{cite news | newspaper = San Francisco Business Times | title = Cincinnati company will buy DigitalThink for $120M | date = Mar 25, 2004 | url = http://www.bizjournals.com/sanfrancisco/stories/2004/03/22/daily34.html | accessdate = May 6, 2016 }}</ref> DigitalThink helped Convergys expand its human resources outsourcing business.


Convergys acquired Intervoice, a Dallas-based telecommunications company, in 2008 for $335 million.<ref>{{cite news | newspaper = The New York Times | title = Convergys to Acquire Intervoice for $335 Million | url = https://dealbook.nytimes.com/2008/07/17/convergys-to-acquire-intervoice-for-335-million/ | date = Jul 17, 2008 | accessdate = May 4, 2016 }}</ref>
In 2004, Convergys bought [[DigitalThink]] for $120 million.<ref>{{cite news | newspaper = San Francisco Business Times | title = Cincinnati company will buy DigitalThink for $120M | date = Mar 25, 2004 | url = http://www.bizjournals.com/sanfrancisco/stories/2004/03/22/daily34.html | access-date = May 6, 2016 }}</ref> DigitalThink helped Convergys expand its human resources outsourcing business.


On November 4, 2004 Convergys announced they had acquired Finali, a Westminster, Colorado based company, for $25 million in cash. Finali provided integrated customer support and sales support management services for e-commerce sites.
Convergys sold its Human Resources Management line of business to [[NorthgateArinso]] in March 2010.<ref name="NorthgateArinso">{{cite news | newspaper = The Wall Street Journal | first = Daniel | last = Hausmann | title = KKR-Backed Deal Offers Alternative to Scranton-Style HR | url = https://blogs.wsj.com/privateequity/2010/03/05/kkr-backed-deal-offers-alternative-to-scranton-style-hr/ | date = Mar 5, 2010 | accessdate = May 2, 2016 }}</ref>


Convergys acquired Intervoice, a Dallas-based telecommunications company, in 2008 for $335 million.<ref>{{cite news | newspaper = The New York Times | title = Convergys to Acquire Intervoice for $335 Million | url = https://dealbook.nytimes.com/2008/07/17/convergys-to-acquire-intervoice-for-335-million/ | date = Jul 17, 2008 | access-date = May 4, 2016 }}</ref>
On March 22, 2012, [[Japan]]ese technology firm [[NEC]] announced it would buy the ''Information Management Business'' of Convergys for approximately $449 million.<ref>{{cite web | website = CIO | first = Jay | last = Alabaster | title = NEC to Acquire Convergys Data Management Business for US$449 Million | url = http://www.cio.com/article/2398014/mergers-acquisitions/nec-to-acquire-convergys-data-management-business-for-us-449-million.html | date = Mar 22, 2012 | accessdate = May 2, 2016 }}</ref> In 2012, Convergys Philippines, 8 years after its entry into the country established 18 centers with 26,000 employees in all, was named “[[Business process outsourcing|BPO]] Employer of the Year” at the annual International ICT Awards.<ref>{{cite news | title=Convergys named BPO 'employer of the year' | url = http://news.abs-cbn.com/business/04/20/12/convergys-named-bpo-employer-year | publisher=[[ABS-CBN]] News |date= Apr 20, 2012 | accessdate = May 2, 2016 }}</ref>


On April 3, 2013, Convergys completed the acquisition of New Zealand-based Datacom call center operations in Kuala Lumpur and Manila for $20 million.<ref>{{ cite news | publisher = ARN | first = Julia | last = Talevski | title = Datacom sells Asia BPO assets for $20 million | url = http://www.arnnet.com.au/article/458062/datacom_sells_asia_bpo_assets_20_million/ | date = Apr 4, 2013 | accessdate = May 2, 2016 }}</ref>
Convergys sold its Human Resources Management line of business to [[NorthgateArinso]] in March 2010.<ref name="NorthgateArinso">{{cite news | newspaper = The Wall Street Journal | first = Daniel | last = Hausmann | title = KKR-Backed Deal Offers Alternative to Scranton-Style HR | url = https://blogs.wsj.com/privateequity/2010/03/05/kkr-backed-deal-offers-alternative-to-scranton-style-hr/ | date = Mar 5, 2010 | access-date = May 2, 2016 }}</ref>


On January 6, 2014, [[Convergys Corporation|Convergys]] and [[Stream Global Services]] announced entry into a definitive merger. Under the agreement, Convergys would acquire Stream for a total enterprise value of $820 million in cash.<ref>{{ cite news | first = Soham | last = Chatterjee | editor-first = Maju | editor-last = Samuel | publisher = Reuters | url = https://www.reuters.com/article/us-stream-convergys-deal-idUSBREA0512B20140106 | title = Customer services provider Convergys to buy Stream Global | date = Jan 6, 2014 | accessdate = May 2, 2016 }}</ref> On March 3, 2014, Convergys completed the acquisition of Stream creating the 2nd largest [[Business process outsourcing|BPO]] provider in the outsourcing industry. The merger brought their total employees to approximately 125,000 with 150 centers in 31 countries supporting 47 languages.<ref>{{cite web | website = Nearshore Americas | first = Narayan | last = Ammachchi | title = Convergys Completes Acquisition of Stream | url = http://www.nearshoreamericas.com/convergys-closes-acquisition-stream/ | date = Mar 4, 2014 | accessdate = May 2, 2016 }}</ref>
On March 22, 2012, [[Japan]]ese technology firm [[NEC]] announced it would buy the ''Information Management Business'' of Convergys for approximately $449 million.<ref>{{cite web | website = CIO | first = Jay | last = Alabaster | title = NEC to Acquire Convergys Data Management Business for US$449 Million | url = http://www.cio.com/article/2398014/mergers-acquisitions/nec-to-acquire-convergys-data-management-business-for-us-449-million.html | date = Mar 22, 2012 | access-date = May 2, 2016 | archive-date = November 23, 2015 | archive-url = https://web.archive.org/web/20151123202905/http://www.cio.com/article/2398014/mergers-acquisitions/nec-to-acquire-convergys-data-management-business-for-us-449-million.html | url-status = dead }}</ref> In 2012, Convergys Philippines, 8 years after its entry into the country established 18 centers with 26,000 employees in all, was named “[[Business process outsourcing|BPO]] Employer of the Year” at the annual International ICT Awards.<ref>{{cite news | title=Convergys named BPO 'employer of the year' | url = http://news.abs-cbn.com/business/04/20/12/convergys-named-bpo-employer-year | publisher=[[ABS-CBN Corporation]] News |date= Apr 20, 2012 | access-date = May 2, 2016 }}</ref>

On April 3, 2013, Convergys completed the acquisition of New Zealand-based Datacom call center operations in Kuala Lumpur and Manila for $20 million.<ref>{{ cite news | publisher = ARN | first = Julia | last = Talevski | title = Datacom sells Asia BPO assets for $20 million | url = http://www.arnnet.com.au/article/458062/datacom_sells_asia_bpo_assets_20_million/ | date = Apr 4, 2013 | access-date = May 2, 2016 }}</ref>

On January 6, 2015, Convergys and [[Stream Global Services]] announced entry into a definitive merger. Under the agreement, Convergys would acquire Stream for a total enterprise value of $820 million in cash.<ref>{{ cite news | first = Soham | last = Chatterjee | editor-first = Maju | editor-last = Samuel | publisher = Reuters | url = https://www.reuters.com/article/us-stream-convergys-deal-idUSBREA0512B20140106 | title = Customer services provider Convergys to buy Stream Global | date = Jan 6, 2014 | access-date = May 2, 2016 }}</ref> On March 3, 2014, Convergys completed the acquisition of Stream creating the 2nd largest [[Business process outsourcing|BPO]] provider in the outsourcing industry. The merger brought their total employees to approximately 125,000 with 150 centers in 31 countries supporting 47 languages.<ref>{{cite web | website = Nearshore Americas | first = Narayan | last = Ammachchi | title = Convergys Completes Acquisition of Stream | url = http://www.nearshoreamericas.com/convergys-closes-acquisition-stream/ | date = Mar 4, 2014 | access-date = May 2, 2016 }}</ref>

In August 2016, Convergys acquired the [[buw Holding]] group.


== Synnex acquisition ==
== Synnex acquisition ==


On June 28, 2018, [[Convergys Corporation|Convergys]] and [[Synnex]] announced they have reached a definitive agreement in which would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with [[Concentrix]].
On June 28, 2018, Convergys and [[Synnex]] announced they had reached a definitive agreement in which Synnex would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with [[Concentrix]].


On October 5, 2018, Convergys Corporation and Synnex announced that they have completed the merger.<ref>{{cite web |title=SYNNEX Corporation Completes Transaction with Convergys Corporation|url=https://newsroom.convergys.com/press-release/synnex-corporation-completes-transaction-convergys-corporation |website=convergys.com |accessdate=October 5, 2018 |language=en}}</ref>
On October 5, 2018, Convergys and Synnex announced that they had completed the merger.<ref>{{cite web |title=SYNNEX Corporation Completes Transaction with Convergys Corporation |url=https://newsroom.convergys.com/press-release/synnex-corporation-completes-transaction-convergys-corporation |website=convergys.com |access-date=October 5, 2018 |language=en }}{{Dead link|date=December 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>


==See also==
* [[List of companies in the United States]]
== References ==
== References ==
{{Reflist|30em}}
{{Reflist|30em}}
Line 76: Line 81:


{{Cincinnati Bell}}
{{Cincinnati Bell}}
{{Authority control}}


[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
Line 84: Line 90:
[[Category:Cincinnati Bell]]
[[Category:Cincinnati Bell]]
[[Category:1998 establishments in Ohio]]
[[Category:1998 establishments in Ohio]]
[[Category:Telecommunications Billing Systems]]
[[Category:Telecommunications billing systems]]
[[Category:2018 mergers and acquisitions]]
[[Category:1998 initial public offerings]]

Latest revision as of 04:05, 24 September 2024

Convergys Corporation
Company typePublic
NYSE: CVG
IndustryCustomer Management
Information Management
Outsourcing
Consulting
Professional Services
Founded1998 (1998)
DefunctOctober 5, 2018 (2018-10-05)
FateAcquired by Synnex
SuccessorConcentrix
Headquarters
Cincinnati, Ohio
,
United States
Number of locations
150[1]
Key people
ProductsInfinys Rating and Billing (IRB), Dynamic Decisioning Solution (DDS), ICOMS, Customer Management, Solutions etc.
RevenueIncrease $ 2.951 billion [1] (2015)
Increase $ 194.4 million[1] (2015)
Increase $ 169 million[1] (2015)
Total assetsDecrease $ 2.358 billion[1] (2015)
Total equityIncrease $ 1.276 billion[1] (2015)
Number of employees
130,001[1] (2015)
Websitewww.convergys.com

Convergys Corporation was a corporation based in Cincinnati, Ohio, that sold customer management and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provided convergent billing and business support system (BSS) products and services including revenue management, product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They had approximately 130,000 employees across 33 countries.

History

[edit]
One of the Convergys offices in Gurgaon, India

The company grew from Cincinnati Bell Information Systems and MATRIXX, both subsidiaries of Cincinnati Bell, and AT&T Solutions Customer Care (formerly AT&T American Transtech), which was sold to Cincinnati Bell in 1998;[2] an IPO in August 1998 made it a fully independent company.[3] Since then, Convergys' headquarters in Cincinnati, Ohio, has acquired numerous companies.

On July 1, 2002, Convergys announced[4] the purchase of the iBasis Speech Solutions line of business (formerly Price Interactive) from iBasis Inc. for $17 million in order to enhance its Interactive Voice Response (IVR) and Advanced Speech Recognition (ASR) solutions.

Iт 2003, Convergys opened two call centres in the Philippines. The Philippines, along with India, was chosen by then president of the company, Jack Freker, for the company’s global expansion.[5]

In 2004, Convergys bought DigitalThink for $120 million.[6] DigitalThink helped Convergys expand its human resources outsourcing business.

On November 4, 2004 Convergys announced they had acquired Finali, a Westminster, Colorado based company, for $25 million in cash. Finali provided integrated customer support and sales support management services for e-commerce sites.

Convergys acquired Intervoice, a Dallas-based telecommunications company, in 2008 for $335 million.[7]

Convergys sold its Human Resources Management line of business to NorthgateArinso in March 2010.[8]

On March 22, 2012, Japanese technology firm NEC announced it would buy the Information Management Business of Convergys for approximately $449 million.[9] In 2012, Convergys Philippines, 8 years after its entry into the country established 18 centers with 26,000 employees in all, was named “BPO Employer of the Year” at the annual International ICT Awards.[10]

On April 3, 2013, Convergys completed the acquisition of New Zealand-based Datacom call center operations in Kuala Lumpur and Manila for $20 million.[11]

On January 6, 2015, Convergys and Stream Global Services announced entry into a definitive merger. Under the agreement, Convergys would acquire Stream for a total enterprise value of $820 million in cash.[12] On March 3, 2014, Convergys completed the acquisition of Stream creating the 2nd largest BPO provider in the outsourcing industry. The merger brought their total employees to approximately 125,000 with 150 centers in 31 countries supporting 47 languages.[13]

In August 2016, Convergys acquired the buw Holding group.

Synnex acquisition

[edit]

On June 28, 2018, Convergys and Synnex announced they had reached a definitive agreement in which Synnex would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with Concentrix.

On October 5, 2018, Convergys and Synnex announced that they had completed the merger.[14]

References

[edit]
  1. ^ a b c d e f g "2015 Annual Report" (PDF). Convergys. Feb 23, 2016. Archived from the original (PDF) on May 31, 2016. Retrieved May 2, 2016.
  2. ^ Fontenay, Blake (Apr 28, 1998). "CBIS, Matrixx Team to Form New Company". Orlando Sentinel. Retrieved May 2, 2016.
  3. ^ "IPO Daily Report: CitySearch to merge with Ticketmaster Online". MarketWatch. Aug 13, 1998. Retrieved May 2, 2016.
  4. ^ "Convergys Buys Speech Recognition Division of iBasis". www.speechtechmag.com. July 2002. Retrieved 2018-07-20.
  5. ^ "A history of the BPO industry in numbers". Rappler. July 2, 2015. Retrieved November 10, 2015.
  6. ^ "Cincinnati company will buy DigitalThink for $120M". San Francisco Business Times. Mar 25, 2004. Retrieved May 6, 2016.
  7. ^ "Convergys to Acquire Intervoice for $335 Million". The New York Times. Jul 17, 2008. Retrieved May 4, 2016.
  8. ^ Hausmann, Daniel (Mar 5, 2010). "KKR-Backed Deal Offers Alternative to Scranton-Style HR". The Wall Street Journal. Retrieved May 2, 2016.
  9. ^ Alabaster, Jay (Mar 22, 2012). "NEC to Acquire Convergys Data Management Business for US$449 Million". CIO. Archived from the original on November 23, 2015. Retrieved May 2, 2016.
  10. ^ "Convergys named BPO 'employer of the year'". ABS-CBN Corporation News. Apr 20, 2012. Retrieved May 2, 2016.
  11. ^ Talevski, Julia (Apr 4, 2013). "Datacom sells Asia BPO assets for $20 million". ARN. Retrieved May 2, 2016.
  12. ^ Chatterjee, Soham (Jan 6, 2014). Samuel, Maju (ed.). "Customer services provider Convergys to buy Stream Global". Reuters. Retrieved May 2, 2016.
  13. ^ Ammachchi, Narayan (Mar 4, 2014). "Convergys Completes Acquisition of Stream". Nearshore Americas. Retrieved May 2, 2016.
  14. ^ "SYNNEX Corporation Completes Transaction with Convergys Corporation". convergys.com. Retrieved October 5, 2018.[permanent dead link‍]
[edit]
  • Official website
  • Business data for Convergys Corporation:
  • Convergys companies grouped at OpenCorporates
Retrieved from "https://en.wikipedia.org/w/index.php?title=Convergys&oldid=1247402669"