Synnex acquires Minacs for USD420m to build up Concentrix

Synnex Corporation, a Fortune 500 IT supply chain services company, is acquiring business process outsourcing (BPO) firm Minacs Group for USD420m to boost its Concentrix global services division. The deal is intended to increase Concentrix’s capabilities in the automotive industry and boost its marketing and Internet of Things solutions. It is the first acquisition by Synnex since 2014. Minacs has US operations based in Michigan while Concentrix operates BPO centers in the Philippines.