Woven turns profitable after iCXperience takeover

LONDON, UNITED KINGDOM — Business process outsourcing (BPO) company Woven has turned in profits in years after iCXperience acquired most of its assets in June 2023.

The acquisition, which involved a capital deployment of £42.7 million (US$54.3 million), included Ansaback, Direct Response, and Office Response — call center firms in Woven’s business portfolio. Software company T-point was also part of the deal for £10 million (US$12.7 million).

The acquisition saved around 250 jobs, and iCXperience is looking to add 200 more workers this year. The firm also fortified its presence in Bristol and Ipswich with a 400-seater facility. 

iCXperience noted its acquisition of Woven and future purchases are part of its plan to record over £100 million ($127.3 million) in revenues. 

The acquisition was financed through iCXperience’s cash reserves, remaining as a 100% family-owned enterprise. 

“We are proud to have acquired such well-established and reputable companies such as Direct Response, Ansaback, Office Response as part of the acquisition,” said Reuben Singh, iCXperience Group CallCare CEO.

“We are committed to delivering the highest level of customer service outsourcing for our clients & also as we grow our Medical divisions that has worked tirelessly throughout the pandemic and as we emerge from this,” he added.

Woven, which was renamed to We are Woven following the deal, offers emergency call-out and 24-hour customer services to the ecommerce, facilities management, and telecommunications sectors. 

Meanwhile, iCXperience has eight operational sites in the UK and has driven 1.5 billion interactions.