Teleperformance obtains 99.91% of Majorel shares
PARIS, FRANCE — Teleperformance is close to finalizing its acquisition of competitor Majorel after gaining control of 99.91% of Majorel’s shares through a successful tender offer.
The decisive two-week tender offer ending November 3rd valued the acquisition at €3 billion (US$3.3 billion). It brought in around €43.7 million (US$47 million), nearing the 100 million share target.
This supports Teleperformance’s strategy to expand its portfolio of innovative services like artificial intelligence (AI) solutions and visa processing across customer care, content moderation and more.
With revenues of nearly €2 billion (US$2.1 billion) in 2022 and over 90,000 employees worldwide, Luxembourg-based Majorel significantly expands Teleperformance’s global presence and capabilities in digital business services.
Teleperformance, headquartered in Paris, is a leading global provider of digital business services with over 410,000 employees serving clients in 170 markets. It reported substantial 2022 revenues of €8.15 billion (US$8.7 billion) and ranked #2 in Time Doctor OA500, an index of the world’s top 500 outsourcing companies.
Early this year, Teleperformance announced its intention to acquire Majorel.
The successful tender offer saw Teleperformance gain control of Majorel’s shares, with shareholders receiving Teleperformance stock or cash in exchange.
On November 8th, shareholders who opted for shares over cash received their Teleperformance stock allocations, with any remainder paid out in cash.
With 99.91% of Majorel’s shares now under its control, Teleperformance is set to finalize the takeover by initiating squeeze-out proceedings for remaining minority holdings under Luxembourg law.
This is expected to lead to Majorel’s delisting from Euronext Amsterdam on December 11, 2023.
“We are pleased to announce that Majorel is now Teleperformance,” Majorel said in a LinkedIn post.
With half-year 2023 revenue reaching €3.96 billion (US$4.24 billion), Teleperformance has demonstrated its financial strength as a leading global provider of digital solutions.
Industry analysts expect the acquisition to strengthen Teleperformance’s position as a leading global provider of outsourced digital business services.
