Convergys Completes Acquisition of Finance & Accounting Outsourcing Business of Deloitte Consulting Outsourcing
August 08, 2005
(Cincinnati; August 8, 2005) - - - Convergys Corporation (NYSE: CVG), a global leader in providing customer care, human resources, and billing services, announced today it has completed the acquisition of the Finance and Accounting (F&A) Business Process Outsourcing (BPO) business of Deloitte Consulting Outsourcing LLC, a subsidiary of Deloitte Consulting LLP.
Today’s closing finalizes a definitive agreement between Deloitte Consulting Outsourcing and Convergys first announced on June 16, 2005. At that time, Convergys stated the acquisition would be neutral to its 2005 earnings per share.
Deloitte Consulting Outsourcing’s F&A BPO business provides finance and accounting outsourcing services to clients in multiple industries ranging from communications to retail to professional services. It provides business processing and technology services supporting clients’ from "procurement to payment," financial reporting, reconciliations, budgeting, and treasury management functions.
"Convergys is already an established leader in the HR BPO market, so this acquisition is a strategic extension of Convergys' service offerings that will leverage our existing HR and customer care expertise and experience, advanced technologies, global reach, and strong client relationships," said Steve Rolls, Executive Vice President, Global Customer Management and Employee Care for Convergys. "Finance and accounting BPO is a fast-growing market and this acquisition provides proven F&A BPO expertise developed over the last 10 years by one of the leading financial services organizations. At the same time, it positions Convergys to expand our footprint to a whole new horizontal market and accelerate revenue growth in our customer management business."
"This move is highly beneficial for Convergys," said Industry Analyst Anna Danilenko, Program Manager of F&A BPO and Consulting services, IDC. "The acquisition is expected to benefit Convergys' core business and well position it to capitalize on a rapidly growing F&A BPO market." [Contact: +1 508 988-6853]
About Convergys
Convergys Corporation (NYSE: CVG) is a global leader in relationship management. We provide solutions that drive more value from the relationships our clients have with their customers. Convergys turns these everyday interactions into a source of profit and strategic advantage for our clients.
For more than 30 years, our unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to marquee clients all over the world.
Convergys has approximately 65,000 employees in 68 customer contact centers and other facilities in the United States, Canada, Latin America, Europe, the Middle East, and Asia, and our global headquarters in Cincinnati, Ohio. For more information, visit www.convergys.com
(Convergys and the Convergys logo are trademarks of Convergys Corporation.)
Contact:
John Pratt, Convergys Corporate Communications
+1 513 723 3333 or +1 888 284 9900 or john.pratt@convergys.com
