Narayan AmmachchiUS BPO giant Concentrix Corp. acquired European rival Webhelp in a whopping $US4.8 billion deal, expanding its global presence to 12 countries.
The combined entity anticipates sales of approximately US$10 billion for the fiscal year 2023.
Hello @Webhelp_Global – we can’t wait to work together with you! Read the full press release about our plans to combine our companies. https://t.co/Cl0qfRkBJL pic.twitter.com/rhxtlVsfcv
— Concentrix (@Concentrix) March 30, 2023
Paris-based Webhelp specializes in sales and payment services. Its list of client includes several major banks and automotive companies across Europe. In Latin America, the company operates delivery centers in up to eight countries and employs around 33,000 people.
Concentrix will gain approximately 125,000 professionals as a result of the deal, giving the company sufficient operational strength to generate sales in Europe and the Asia-Pacific region at about the same level as in the Americas.
“With our combined strengths, we will be uniquely positioned to redefine the industry and design, build and manage the future of CX,” said Chris Caldwell, CEO of Concentrix, who will continue to lead the combined company.
The acquisition will make Concentrix a formidable force in the global BPO industry. It will now serve approximately 2,000 clients, of which 155 are Fortune Global 500 companies.
Aside from expanding its list of customers, Concentrix can benefit from Webhelp’s technical talent in Europe and Latin America, many of whom have years of experience in developing groundbreaking AI solutions for customer support.
Webhelp comes with a range of digital technologies that experts believe will surely raise Concentrix’s value offering to previously unseen heights. Furthermore, their technological platforms are projected to grow in strength, enhancing their prospects of acquiring numerous clients in the years to come.
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