Sitel Group to acquire Sykes at 31% premium
The customer experience (CX) management service provider Sykes Enterprises Inc. signed an agreement to acquire CX products and solutions provider Sitel Group valued at $2.2 billion.
The 31.2% premium purchase price matches SYKES’ closing price on June 17, 2021, and a premium of 29.1% over the 30-day volume-weighted average price of SYKES’ common stock.
“By combining the two companies, our expanded geographic footprint, multi-shore solutions and greater capacity to serve customers will make us better equipped to help our customers navigate the rapid changes within the sector together. We began this journey more than 25 years ago and our entrepreneurial mindset still guides us, along with our talented people around the world and our people-centric values. We are excited about our future and continuing our story with best-in-class CX delivery for our customers and a greater employee experience for our combined 155,000 people,” said Laurent Uberti, President and Chief Executive Officer of Sitel Group.
The addition of SYKES’ customer experience (CX) solutions in digital, social media, and robotic process automation (RPA), will boost Sitel Group as a competitive BPO player with a wide range of CX products and solutions including an expanded geographic footprint, multi-shore solutions, and greater capacity to serve customers.
This follows TaskUs’ announcement of going public with 13.2M worth of shares at NASDAQ, opening its initial public offering (IPO) shares to the public worth $23 apiece.
