Concentrix Acquires Minacs

calculator and pen 3

Concentrix, a subsidiary of the NYSE-listed SYNNEX Corporation, has acquired its rival Minacs for a sum of $420 million.

CEO Chris Caldwell says that it is part of their long-term vision. The move is expected to generate revenues of $400 million for Concentrix.

Concentrix is focusing on improving its Bridgetowne facility at Libis in Quezon City. Tera Tower, an 11-storied building, has 22,500 square meters of office space, and expected to house 6,000 more employees.

But that is not all. There are two more buildings under construction, namely the Zeta Tower and Exxa Tower. Between them, they will have 57,500 square meters and can hold another 8,000 BPO employees. Caldwell envisages the entire Bridgetowne campus being completed in the next three years, with an investment of $25 million-$30 million.

Concentrix already has 20,000 employees in the country. Caldwell plans to double the size of Concentrix’s business and adds that the Philippines will play a key role in the company’s growth strategy.

He further emphasizes that Metro Manila will not be the sole focus of their expansion. Several sites in the provinces are also on the drawing board, Caldwell adds.