Nearshore Americas

iQor Acquires CCT Group’s Call Center Unit in Panama


New York-based customer analytics specialist iQor has acquired Panama’s BPO firm CCT Group, expanding its footprint to Latin America and the Philippines.

CCT Group provides contact center and business process outsourcing services, with call center sites in Pampanga and Davao, Philippines and Panama City, Panama. Financial details of the deal have not yet been disclosed.

The acquisition, according to analysts, will help iQor broaden its technology offerings and access wider market for its big data analytics service. “The acquisition of the CCT Group is part of our strategic plan to apply our technology-enabled solutions and deep analytics capabilities to a broader platform,” said Norm Merritt, President and CEO of iQor.

“We believe acquiring CCT will expand our abilities to offer our respective clients a wider range of technology-enabled solutions and Big Data analysis into the increasingly complex customer experience.”

iQor has made the acquisition through the CCT Group’s majority investor Headland Capital Partners.

In 2010, CCT Group’s call center service, Cyber City Teleservices, merged with call center technology specialist Interactive Response Technologies, which operates five centers in Florida, Texas and Oklahoma.

For iQor, this is the second acquisition in a span of just two month. In October, iQor purchased visual business intelligence specialist HardMetrics, which provides cloud-based visual business intelligence, business analytics and reporting solutions.

“By combining our strong global brand, service culture and reputation, and large and loyal customer base with iQor’s technology platform and analytics capabilities, we believe we can continue to build and bring solutions to the market that place customer relationships at the center,” said Richard Eychner, current CEO of CCT.

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iQor is expected to retain all the 4500 employees working at CCT’s call centers in Panama and Philippines.

“Our additional investment today underscores our belief in iQor’s opportunity to transform the BPO industry,” said Gary Crittenden, Managing Partner of Huntsman Gay Global Capital, a majority investor in iQor. “CCT brings an exceptional track record in customer care and will enhance iQor’s growth as a leader in the BPO space.”

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

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