Sitel Group, a leading global provider of customer experience products and solutions, said it signed a definitive agreement to acquire Sykes Enterprises Inc., a leading full life cycle provider of global customer experience management services, multichannel demand generation and digital transformation.
Under the terms of the agreement, a subsidiary of Sitel Group will acquire all outstanding shares of Sykes common stock in an all-cash transaction valued at about $2.2 billion.
Sitel Group is active in the global customer experience sector, offering a wide range of products and solutions for more than 400 customers. The acquisition of Sykes makes the combined company poised for sustainable growth, as one of the leading BPO players with a comprehensive range of CX products and solutions, leveraging EXP+, the enterprise experience platform from Sitel Group.
Following the proposed transaction, the combined company will employ 155,000 employees across global offices in 39 countries, serving over 600 clients in over 50 languages. With the combined company’s increased capacity, it is expected to reach revenue greater of more than $4 billion in 2021.