ClientLogic and SITEL Corporation (NYSE:SWW), both leading global
providers of outsourced customer support services, announced today
that ClientLogic has completed its acquisition of SITEL Corporation by
merger. Under the terms of the definitive agreement announced in
October 2006, ClientLogic paid $4.25 per share in cash for all of the
outstanding common stock of SITEL. SITEL's shareholders approved the
acquisition on January 12, 2007.
The combined company is headquartered in Nashville and has over
65,000 associates across 28 countries. The combined company's revenue
of $1.8 billion is generated by providing world-class solutions from
on-shore, nearshore and offshore locations across 145+ facilities
throughout North America, South America, EMEA and Asia Pacific. Dave
Garner, formerly President and CEO of ClientLogic, is the President
and CEO of the combined company.
"Today's closing is an important event for our clients, associates
and the industry," said Mr. Garner. "The combined company is one of
the largest providers of customer care and transaction processing
services in the Business Process Outsourcing (BPO) market. As
companies increasingly turn to trusted BPO partners to manage their
customer care and transaction processing needs, qualities like
adaptability, a large menu of services, a deep bench of expertise and
expansive geographic reach are a requirement. The new company is
ideally positioned to meet these needs."
Today's merger brings together two synergistic companies with a
similar focus on serving clients' business process outsourcing needs.
Clients will benefit from:
-- Delivery of maximum return on customer investment by reducing
service costs, increasing revenue per customer and increasing
customer retention
-- Utilization of the Right-Shore strategy, leveraging
multi-shore facilities to serve clients from various
locations, offering a reliable, cost-efficient and flexible
customer management strategy
-- Expanded capacity, a larger geographic footprint and a more
advanced communications network, offering greater flexibility
and choice for clients' customer service needs
-- Additional complementary service offerings, providing the
ability to expand and/or centralize customer care initiatives.
The new company's offerings include: customer service,
technical support services, sales and retention programs,
back-office processing and receivable/collections
-- Access to a team with deep industry domain experience across
multiple verticals, providing clients with strategic insight
into their business and how to best achieve measurable results
Mr. Garner concludes, "The two companies are a great fit, sharing
like-minded industry focus and service-oriented cultures. Moving
forward, we will continue to provide top-quality service to all
clients and a positive work environment for all associates. The new
company will quickly align talent, processes and technology to achieve
maximum client, associate and corporate success."
About the new company
The new company is a global Business Process Outsourcing (BPO)
leader. Formed by the merger of ClientLogic and SITEL in January 2007,
the new company meets clients' customer care and transaction
processing needs through 65,000 associates in 28 countries. The new
company provides world-class solutions from on-shore, nearshore and
offshore locations across 145+ facilities throughout North America,
South America, EMEA and Asia Pacific. The new company's award-winning
services provide clients with the strategic insight, scale and
diversity of offerings to ensure the best return on their customer
investment. The company is privately held and majority owned by
Canadian diversified company, Onex Corporation.
